Okay, I'll try... How are things?
Um, good. Kinda'. It depends.
I'm a long time Logic user, occasional 'basher', sometime supporter. I just finished a really intense TV composing gig and for the most part Logic 7.1 performed like a champ (on a dual 1 Ghz G4 with 2 UAD-1 cards).
It really depends what kind of stuff you're doing. If you're more into 'live' audio with multiple players, comping lots of live drum tracks, etc.. then I dont think Logic's got anything over the competition. You're probably better off in SX, Nuendo or PT for that.
But if you're into synths (I am), use loops (I often have to) and need lots of open ended flexibility (which is otherwise known as '8 ways to do everything' ergonomic confus-orama), then Logic is the way to go. At least in my experience, 7.1 is very stable except for 1 or 2 well known and easily avoided bugs. The mixing environment and controller support (US2400) is excellent, the media management has really improved (using 'save as project, multiple bounces simultaneously etc), and the built in plugs and synths like EVB3, EVP88, Space Designer, etc. are addicting and eventually indispensable.
So, that's one user's opinion. If it suits what you do, and you can get your headd around the complexity of it all, it's a very powerful tool. Add the UAD-1s' and it's quite hard to beat.
But if I was starting from scratch today would I choose it over the competition? That's a trickier one.
Hope some of that helps. Or at least muddies the waters in an interesting way.
T!