Also as a New user, in fact a PC to Mac convert I also looked at the .Mac service, but so far haven't been convinced because I have my own domain name, email address, and web hosting service and as others have stated the price does seem high (Mine is kindly paid for by somebody I do freelance work for).
One thing that is tempting me is the backup software which seems pretty good (Maybe others could advise) and which you get to keep even if you do not renew the subscription (according to the guy in the Apple store). My reasoning so far has been as most of the decent backup software I have found to date appears to cost $'s maybe its worth buying into it something that I have already committed to quite heavily (Apple).
I am still not 100% convinced however and will watch this thread in anticipation of a revelation.
Regards Mark