It's been a little over a full week now, and I'm still on Xubuntu for my primary desktop. I like to try out all the latest stuff, so I likely won't stay on it forever. But for now, it's looking like a good default. A few observations to wrap this up:
The default media player seems to be parole rather than totem. It seems to be nice an lightweight, but had problems opening some sound files that I received in an email. Possibly a bit of work to be done here, but looking ok. Fortunately, it's easy to reset that default for now.
Exaile seems to be the default music player for Xubuntu. I love Exaile, and have for quite some time. This makes me happy. :)
Xubuntu lives up to the hype of being a good balance between lightweight, but also good looking and easy to use. A few defaults seem to need some tweaking IMHO, but that's subjective. All in all, I recommend checking it out, especially if you don't have the latest/greatest hardware and don't care about compositing and other such eye candy. I've found it to be stable, functional, and an all around good experience to use.