I'm not thrilled with certain aspects of it so I'm wiping it and will be loading Simply Mepis 6.5.0.2 next week.
Among the things that I didn't like was the whole "nanny-distro" thing where root access is not granted to any account unless using sudo. I was able to give root a password and tell Ubuntu to let root login...but still...kind of a pain. It also was a struggle to get it to use WPA for my wireless....after I spent an hour getting my Broadcom mini-PCI board to work.
I did like the apps that came with it and the Add/Remove wizard was quite nice as well.
All in all I think this is a good move by Dell. Ubuntu won't be as easy for some as an OEM Winders install...but it will expose it to a LOT more folks.
I have Feisty on my 2-year-old laptop, and it runs great. I have Compiz and Beryl installed, and surprisingly my laptop runs Compiz and Beryl without any significant performance loss, although it seems Compiz is less memory-hogging. But everything works. I downloaded Sun Java 6 JRE last night via Synaptics without having to add an extra repository or something like Automatix or EasyUbuntu.