As of about 2 days ago, I took the big leap.
I rooted my G1 and installed a custom ROM! 
What does this mean? I broke free from the bondage of a crippled OS and have now turned my G1 into a tool that can do much, MUCH more than it used to be able to do!
I can now:
1) Install apps to my SD card
2) Use a partition on my SD card for swap space
3) Run everything much faster/smoother
4) Install many more apps because of #1
I couldn't stop playing with my phone since I rooted it. So much to do, so much to see it do!

Now only if they could get Quake ported sooner...