If I wanted to see that many programs in OS X, I could open the Apps folder and see all of my apps better than the All Programs menu faster than you can bring up the All Programs menu in the start bar, in the same number of clicks. The Dock allows you to put only the apps that you want within easy reach, and it leaves them all in plain view, instead of having to click a button in the corner and having a panel open and consume a large porion of the screen while you pick what you want to launch. The Recent Items menu gives you a far bigger selection of recent apps than the Start Menu. Is it not frustrating when you are used to having a program in the short list, but on one out of the ordinary day, you happen to open a program or two more than usual, and the one that you like having in the short list disappears and you have to go and open it in the cluttered All Programs menu? Even more, what if you want to keep list of all of your programs open in the background? You can't do that with the Start Menu. Nor can you drag files onto an application's icon and have it open under that application. I'm sorry, but for someone who likes to move around the OS quickly and know exactly where everything is, the Start Menu just isn't the best solution.
As far as "access to core features for configuring the OS" being "annoyingly absent", what's wrong with using the System Preferences icon in the Dock? If the average user needs to do anything more than what's in System Preferences, he can simply put whatever other apps he needs in the dock.