I'm running winME right now. Haven't had any problems with it so far (at least nothing major). I will say, that i lost an average of 5-10 fps in q3a just by running winME. I was getting 87fps in 98, and now getting about 80. I did a bit of tweaking to get it back up to 90, but i had to turn a thing or two down. Not that big of a deal.
The article complains about winME being a performance hog over 98. But if you think about it, 98 was as much of a performance hog over 95. But you don't see many of us using 95, do you?
So far my own real complaint is the horrid media player. Its not bad for music, but when it comes to video, i just can't stand it.
However, my net access seems a lot more stable under ME, and a tad faster too.