Here is my opinion:
Yes, you can buy other IBM compatible laptops that have better features, are faster, better (higher resolution) screens, 2 buttons (I don't understand why apple hasn't put 2 buttons on their notebooks yet), better video cards, etc.
Also, for a very experienced user XP or Vista aren't that bad. I've NEVER had a virus, I've NEVER had a trojan, and other than hard drive failures I've never had any major problems with my PCs. And I download, install, and run more stuff than the average user by far. I understand it might not be so easy for most, I have been using windows since 3.1 and also have a computer science degree (not that this makes me a genius, but I have spent a sad portion of my life on computers!). Even Vista isn't a bad OS, it looks very nice, is fast, and after a service pack will be rock solid stable I'm guessing. As is, after running it for 3 months (since the day it was released) I had fewer crashes/hangs than I have had in the 2 weeks owning my MBP.
BUT
I really like how the MBP looks, is designed, and I enjoy (so far, for the most part) using the OSX OS. The OS looks nice (not THAT much nicer than Vista IMO), Expose is a god, the iLife suite is fun and the applications are well written (though I wish there were some more advanced import functions for iPhoto). Also the computer is very fast.
The MBP has great hardware from the inside out. It's almost cutting edge, and it's solid. The remote is a lot of fun and I'm looking forward to going home and showing my family (hell, even letting my mom) my iPhoto slideshows.
And here's the big thing: The price is very good for what you get. At least for a student.
I got the 2.2ghz S.R. 15" MBP, for 1800 with my student discount - I also got a free ipod AND a printer. I could have easily sold the iPod for 150 bucks, and the printer for another 50 at least. That's around 1600 out of pocket for a laptop (even if it was a Vista laptop) with great features and a very solid design. I had just bought (and sold so I could buy my MBP) a Laditude (business class Dell laptop, way better quality then inspirons, all metal, 1920x1200 resolution, etc) and it cost me around 1800 (though it had a 3 year next day service plan, a much higher res screen and a 256 meg video card). It wasn't that much cheaper. At all.
Even if I end up running windows Vista on this full time someday (for whatever reason - I don't plan on it!) it was still a good buy.
edit: but yeah, raw speed performance and features, there are deffinetly other laptops out there that are better.