I recently wrote a project that needs to do 100's or 1000's of possibly slow network requests per second. The first try was Ruby threads. That was a disaster (as I should have predicted). I had an entire 8-core server swamped and wasn't getting near the performance I needed.
The next try was node. I got it running and the performance was fantastic. A couple orders of magnitude faster than the Ruby solution and a tenth of the load on the box. But, all those callbacks just didn't sit right. Finding the source of an exception was a pain and control flow was tricky to get right. So, I started porting to other systems to try to find something better. I tried Java (Akka), EventMachine with/without fibers, and a couple others (not Erlang though).
I could never get anything else close to the performance of Node. They all had the same problems I have with Node (mainly that if something breaks, the entire app just hangs and you never know what happened), but they were way more complicated, _harder_ to debug, and slower.
I have a new appreciation for Node now. And now that I'm much more used to it, it's still difficult to do some of the more crazy async things, but I enjoy it a lot more. It's a bit of work, and you have to architect things carefully to avoid getting indented all the way to the 80-char margin on your editor, but you get a lot for that work.