I think the idea of Time Capsule is great, it's probably much more then just a disk thrown into a wireless router. It probably has some sort of OS X to verify the data to ensure reliability.
Now in regards to all of the complaining, saying Apple screwed me because I bought an AEBS + External HD is getting old. For those of you complaining, if you had taken 2 seconds you would have seen that Apple clearly stated before the release of Leopard "features are subject to change". This was on the main page for Leopard before it was released.
That's business. If they had kept the function, and the data was no good you would be complaining about your data not being any good for backups. Then complaining you spent all this money still.
I bought an AEBS + HD myself in the hopes that it would work, but I knew full and well that it was possible such a feature might be removed. It was my decision, I knew the risk, I rolled the dice, BFD.
This is the same type of complaining when people that never owned anything Apple or high end electronics, and were never early adopters before and went out to buy an iPhone when it first came out. Then guess what, price drop. This is not rare in the electronics industry. Look at new HD-DVD & Blu Ray players that first came out, some started at 1,500 to 2,000 and then within a matter of months they drop big time. If you're an early adopter, you take that risk.
So I suggest maybe use the wait and see approach based upon your needs and use, or fully read and understand the risk of being an early adopter.
For arguments sake, I own the following:
MacBook (Black C2D)
AEBS (non-Gig)
External HD & Printer attached to AEBS for backing up files for my MacBook & gf's XP Laptop
WD Passport for MacBook, for guess what Time Machine
iPhone (no early adopter, understand the risk and the aspect of supply & demand)
AppleTV (understood the future capability of device)
5th Generation iPod
3rd Generation iPod Nano
Plan to buy:
Time Capsule
Recommend & setup the following for parents & even bought:
MacBook (Black C2D, most recent revision)
iMac (bought for parents)
AEBS
External HD connected to the iMac for use of Time Machine for MacBook
5.5 Generation iPod
3rd Generation iPod Nano