I like it and actually paid money for it!
I tried WHS during it's beta phase, and liked it a lot. OEM discs have been available for quite some time; I paid around £80. I also knocked together a SFF PC with 750gb for £175, but with space eventually for 3tb when the need arises. I think it can do a lot more than people realise...
The backups are great, every night at a certain time all my PCs etc are backed up (if they're on/sleeping). Once the back ups are on the server, you can mount it as a network drive if you need to grab an old file. Subsequent back ups are sequential, so two backups of a 100gb drive does not take up 200gb of space. And when you PC dies, just stick in the recovery disc which will contact the server, and let you decide what back up you want to restore. The restoration process is as fast as your network, and when I bought a new larger hard drive, it was easier to just 'restore' the OS on the new hard drive rather than fiddle around cloning it with different partition sizes etc.
It has several other tricks up it's sleeves, like the remote desktop proxy. I only need to open to right ports on my firewall to point to the WHS box, then I can remote to any PC on my home network via a web browser interface.
Anything stored on the WHS can also be access online thru a web interface, with the option of zipping up mutliple files or folders to download large chunks at one time. You can also upload files etc.
The biggest positive are the plug-ins, which anybody can write. I have one that allows me to wake on lan any PC at home, or shut them down etc. There are others that allow people to add torrents to a download queue, create personal web sites on your WHS (and then accessbile thru the livenode.com address WHS sets you up with) etc etc, the sky's the limit with the plug-ins.
Finally, after all, it is just a windows computer, so you can run most any type of service alongside the WHS stuff, and the requirements are not that high at all. Mine has a cheap stick of 512mb ram and an old celeron processor (i think the minimum req. is 1ghz) so the hardware itself doesn't need to break the bank or require a lot of power.
p.s. I'm not a MS employee or part of some guerrilla PR marketing :)