Over the weekend I tried Ubuntu 9.04 beta using the Live-CD. Since I was using the Live-CD mode, I did not see any increase in performance with the file system, nor did I expect to. However, I was disappointed with the fact Evolution 2.26 was not able to import PST files. A friend of mine sent me a link from bugs.launchpad.net. From what it looks like to us, they are working on the issue.
I also talked about using the Live-CD to a colleague at work. I explained how I was going to update Ubuntu from 8.10 to 9.04. He asked about my home profile and if I was going to back it up. I said I was planning on backing it up, but I also explained that my home folder is on a separate partition. So replacing one Linux distro with another is no big deal. Just have to remember not to wipe out that partition, and instruct Linux that is where /home resides.