I upgraded my desktop machine to Gutsy (Gutsy Gibbon, Ubuntu 7.10) several weeks ago, and it has been going reasonably well, so it is time to upgrade the laptop. The distribution upgrader application happily told me that I needed to download around 1.4 gig of updates that would take around 2 days 7 hours using a 56K modem. I'm happy that I have a decent ADSL connection, although it is still saying that it has got between 4 and 7 hours remaining depending on the current download speed.
The official Gutsy release candidate is in about a week or two. If you feel so inclined, you too can upgrade and help report bugs.
I just wish I could figure out how to use my favourite window picker that beryl has that compiz doesn't seem to (or at least I haven't found it yet).