First off I want to say that I've had no problems with mine and I love it. Got one in N-only 5 GHz mode with a Linksys serving b/g wifi in bridge mode.
However, if you have no use for the hard drive part of it, I say go for the AEBS. The TC's first gen and is bound to give more problems as the kinks haven't had enough time to be worked out. Some would argue that since the update, you could also use an external HDD connected to the AEBS for Time Machine, but I've read online that it's an unsupported feature and prone to problems (which subsequently won't be supported by AppleCare).
If you do have use for the wireless backups/NAS features of the Time Capsule, I say go for it. It's quite convenient and saves on the clutter. And keep in mind that you won't be reading about the happy customers on these forums as much as the ones that have had problems with their device.