Vista has grown up a lot since it came out. I have no interest in it, but I have an older system and will likely skip it as by the time I put money back into my computers, I will be ready for W7. What's nice is that my wife's uncle is a regional sale guy or something for M$ and I can get OSs and Office for family rate (I won't tell you how much because you'd hate me) and it's all perfectly legal, so no more pirated software.
I ran Vista for a few weeks, but didn't care for it. Granted, I had just installed WoW, so I spent most of my time playing that, AND the HDD was known to be bad and likely not to last long (it didn't), but just trying to figure out how Vista interface worked was a chore.
No doubt that W7 will be better, but mostly because hardware drivers support will be better, and it's basically Vista service pack with the things that people hated taken out and things people loved left in.
Our corporate IT has declared Vista unsupported, so if we get new machines we have to make sure they can be "downgraded" to XP. I suspect that we will be adopting W7 when it comes out though.