Visvanath,
> Got bitten by the v2.x bug? What happened?
mm Not really, but began using 2.0 on my local machine and put up with a lot of the rubbish around that. There are a number of issues around v2.x that need some serious reworking, but that is just me, the aesthetics of v2.x are somewhat - mixed - is a good word here. However, by the time of v2.2.1 there has been a lot of work and yes there are still issues some of which I have posted in Moodle Tracker, and been igno....err, overlooked.. Others I have mentioned in posts, like IMNSHO Moodle wikis are really rubbish and need be replaced with something that works, looks good and is a lot more user friendly as well as being used at both site and course levels.
On the benefits side, it is stable, it is easy to use in some ways, more annoying in others, navigation is not as good as v1.9.x, but themes and menu structures are easier to deal with uising the dock and so on. Lots of really good things in v2.x now, and as I am using a stable bog standard v2.2.1 for one of my Moodles, and updating to v2.4 maybe before the end of the year on the other, and then if it is as good as it promises to be, both will be the same version.