I'm in the process of moving most of my funds over to Fidelity. 3.5% interest, no ATM fees (all ATM fees are reimbursed), no minimum balance, no annual fees, no bounced check fees, free checks, free bill-pay services, and it's FDIC insured.
My primary reason for doing it is the quick turnaround in transfers to/from my brokerage account (also with Fidelity), but it was only a matter of time before I left traditional checking; too much fee swindling. I'm keeping my Chase account open for backup. ING also offers a similar account, I believe.