After using Archlinux for a year I am back on Ubuntu 12.10. Ubuntu 12.10 is an absolute bliss. It is a complete hassle free desktop environment. If Ubuntu had support of hardware and software developers, it is definitely ready for some serious competition.
On the other hand, I am not so happy with Linux kernel which is being updated every 3 months yet it performs terribly when it comes to power management. There is a new power regression bug every few months.