to me there are two types of peer to peer file sharing.
limewire/napster/drumbeat/morpheus/etc type sharing: these are anonymous, little to no interaction between people, require you to share a set of your own files anonymously, search engine type searching. very good for certain uses, not so good for others.
to me this is the quick and dirty. its not very easy to download large files but little things like mp3s are easy. this method is sloppy you dont really know what you are doing but no real time investment (unless you consider waiting for your download investment)
carracho/hotline/irc/ftp/etc type file sharing: these are less anonymous, allow and usually require interaction between users, there are servers, trackers and clients, the focus is on dealing (just saying hi, offerring to upload, etc) with admins not using a search engine. again good for some uses, not good for others.
to me this method is slow but precise. you can find hard to find things, and you usually know what you are downloading, it is very easy to download large files. the tough thing is getting access to good servers, some admins can be real snobs so teh trick is finding good people. once you have a few "friends" its really easy to get most anything you want quickly but the initial time investment can be daunting to some people, just be friendly and helpful and it will pay off.
since these apps are two completely different type of applications i would say its important for anyone who wants to be "connected" to find at least one application in each category that they use. its a matter of knowing your tools. if you tried to work on your mac with just a phillips screw driver you couldnt get much done. you have your torx and your phillips and you use each one where it is needed. you dont try to unscrew a torx screw with a phillips screwdriver, you might get it out but more likley than not you will strip your screw... hm i seem to have gotten a little sidetracked here. anyone try each type and remember about the time investment in the category two type apps (it can get frustrating at first).