Tried it over the course of several days recently (updates and all) and when it was first dropped and can safely say I was very unimpressed.
Nero: there are alternative tools that are far superior so who cares about that.
DX10, DX10 cards were greatly overpriced when I was building a few months back and things have only just started to change. It seems there are some efforts to "port" stuff back as well which is nice.
Gloss, I hated having to "hack" the registry on XP to get control on my machine but michaelf went through all Vistas equivalent.
Hardware: I have stuff that still functions great and does the job of anything made recently: drivers (even hacked together ones): nonexistant, this may not be vistas fault per se (not sure how a compatibility layer could function) but then again I could build an all singing all dancing car but it would not mean squat it was not road legal.
General stuff: my experience pretty much mirrors michaelf's although I will say a lot of that is on XP as well. Don't get me started on "security" either.
Resources, even after about 4 hours (actual tweaking time, not including research) and all the apps, forum posts, articles , common sense, I could just get it down to moderate resource levels. This also meant losing most of things that made it "better".
Personally I will stick with my copy of XP with the guts ripped out and replaced: I too hate bloated OS releases especially when the bloat is all junk that could be bettered with a half hour session on VB:
inbuilt "zip", right
calculator, ok then
CD burning, I suppose if you into that sort of thing explorer integration may be a plus
wordpad, I will give them that one as office is a different tool but still
notepad, it has got better but notepad++ still beats it
IE, what can be said that has not already
regedit, OK so average joe may not use it except when they get a virus but it still is useless.
tweaking: I can accept some stuff has to be buried but the amount of stuff that is is obscene.
paint, hmm.
av stuff; I use volume control and nothing else really. I suppose that might change if I wanted to watch DRM stuff but I so far have not needed to.
security: passable at best.
outlook, I do not use email really so this one does not bother me. I suppose the "newsgroup" support could be mentioned though.
Support tools: defrag, format,
Also "and I have an interest in digital multimedia so Mac is the way to go for me.", I figured I might as well learn to use a mac a while back: what possibly does the mac line of stuff have over any other alternatives in the video, audio or still image world?
This being said I use a computer every day and require high performance for lots of stuff, do a fair amount of "obscure" tasks, use a lot of "odd" hardware and have no need or desire to have my hand held through everything so anything that upsets that irks me, perhaps if it came bundled on a machine for a less computer literate person would I be inclined to leave it, would I put it on a machine I am building for someone? would I hell.
I can see the potential of Vista though, it just seems that MS is doing everything in their power to shoot themselves in the foot or redo ME/non x86 versions of windows.
I suppose it is ironic that MS seem to have forgot that they got where they are by offering cheaper, yet usable, stuff than competitors.