Dubai is a beautiful city based on pictures I have seen. They are planning for a post-oil world, and are becoming a tourism and commercial center for the Middle East. I'd like to visit there sometime.
A lot of knee-jerkers here (here meaning both FR and America) will be suspect simply because they're Arabs, but most in the UAE are capitalists through and through and, as you said, are looking beyond an oil-based economy. That's why I found the whole Dubai Ports World thing rediculous - an alliance of protectionist "conservative" dimwits who don't understand economics or international relations and Democrats looking to bash the President in any way they can. I, however, think we will prevail in the WOT and the UAE could become a model for the potential of the rest of the Middle East. I too would like to visit Dubai someday.
They've built an awesome racing facility and tons of golf courses. The Emir is a racing fanatic, so he can't be all bad. The island projects they are working on just offshore are quite impressive as well.
I have to wonder what hard-line Muslims think of Dubai - it seems to have all the trappings of the Great Satan Western Civilization (and more!)