I know that every game and every hardware component I have works fine in XP. I know that XP is very stable (I have left the computer running non-stop without a reboot for almost 2 months straight and only rebooted then because I wanted to updated DirectX). With Vista, it's a different ballgame. I know that it will be less compatible with older games/apps than XP is (and XP isn't the most compatible OS for older software), so I may lose the ability to play some games that I can play on XP without problems. I also have an old TV Tuner card that works great, but I'm already using old (2000/NT) drivers to make it work in XP. They aren't going to make new drivers for Vista if they didn't for XP and I don't see any reason to buy a new one when this one works perfectly. So those are just 2 reasons I have for not going to Vista.
Others include the expected bugs and other problems that I don't want to subject my important files to. I did go to XP immediately upon release, but that's because I had ME at the time and that was so bad that XP couldn't be much worse regardless how many bugs it might have on release. Normally, though, I prefer to wait until it's been out for awhile (and preferably has had at least 1 service pack to fix the bugs).