It's nothing new.
When 95 came out, everybody said "I'm not installing 95, I'm staying with 3.x."
When 98 came out, everybody said, "I'm not installing it, I'm staying with 95."
When NT came out, everybody said, "I'm not installing it. It doesn't support gaming and it's got all sorts of stupid security junk." (Totally ignoring the fact it was produced for the business world where game playing was not exactly a priority and security was)
When W2K came out, everybody said, "I'm not installing it. I'm staying with NT."
When XP came out, everybody said, "I'm not installing it. I'm keeping 98 (or W2k)."
I've got Vista and although I've only been running it for several days, I haven't encountered any problems other than the learning curve.
Vista is quite a bit different for those of us who poke around in the file structure. For example, there is no access to "Documents and Settings" without some pretty severe registry editing. Turns out it's not actually a "folder" like I'm used to, it's a "junction." Someday, I'll learn what a junction is.
While XP was arranged somewhat similarly to 98, Vista is not. The interface is different enough that it takes some time to use it easily.
Also, a lot of the problems that have been posted all over the net were problems with the beta versions, the "release candidates." Microsoft never claimed any of those were free of bugs and glitches. They were an "install at your own risk" deal.