Streaming video.
Quake III.
Video conferencing.
MP3s.
DVDs.
CD burning.
Video editing.
Pause/rewind live TV.
...and plenty more, all doable within minutes of unboxing a new PC.
Oh sure, there's plenty of bloat. You don't need a large percentage of what disk space gets allocated for. Pounding out a quick memo doesn't need more than the first word processor run on an Apple II. But...compare the size proportions between commonly used applications and the data files they handle. The music you're listening to is likely a 5MB .MP3 (out of a collection spanning gigabytes); the LotR trailer you'll watch during lunch is about 50MB; the Unreal Tournament session you'll play this evening chews up 500MB in maps & related data files ... and none of these apps could be reasonably, conveniently be run on the relatively svelt machines of the past.
Complaints of "bloat" have appeared with every upgrade. Sure it all gets bigger...yet there's no question that there's more functionality in the straining load in my 700MHz, 20GB laptop than the PS/2 collecting dust in my brother's basement - that's WHY the older machines are mostly collecting dust: the "bloatware" machines actually do more.
Use vi...it works fine < /grin>