What are some arguments for and against upgrading to XP? I'm looking to try and find some real information beyond the standard "baby-food" type stuff (greatest thing since sliced bread they always say) I see in all the magazines...

1) What are the program issues and changes?
2) Is this product verification stuff (it's bs already it sounds like and it's already kept me from even thinking about the upgrade up to this point) going to cause any problems (loss of privacy, loss of ability to reinstall or run on upgraded hardware)?
3) Are there any program incompatibilities in any cases? I know DOS is out of the question and 3.1 is questionable...but are there any 95,98,Me, NT, 2K programs I should watch? Any programs I should look at upgrading right away?

Background: I've run the M$ upgrade advisor and it checks out. I've had to rebuild my machine and just formatted my hard drive (on another machine right now). Running Me right now and not stable (as it ever has been). I do long-term processing in terms of video/audio processing, cd-burning, etc, as well as game playing and the regular stuff.

Thanks in advance.