Well, I bit the bullet and used a 50% off coupon at Michael's today and bought the new cuttlebug. The main reason I succumbed was that it works with any die out there (or so they say). I have the old dinosaur sizzix machine that weighs a ton and frankly I just didn't lug it up and down to use it on a consistent basis. That's another plus for the cuttlebug, it's compact, light weight and easy to store!
I have been experimenting with it the last couple of hours and have to say that it was well worth the money. I really am impressed with the embossing folders, it gives a deep impression that is awesome! I didn't buy any of the dies at this time, since I have so many sizzix dies. But I bet I'll end up buying some with the Joann's and Michael's 40% off coupons periodically.
So, if you haven't been bitten by the "bug" yet, check out all the discussions and praise at Split Coast Stampers and many of the other scrapbooking and stamping forums.