Personally I have been using ADW since D1. I have tried Launcher Pro and go launcher, but I keep coming back. There are plenty of themes online and is customizable to your liking. Never had much trouble with it. Didnt like Go Launcher and had a lot of lag issues on Launcher Pro.
Between this and the 'Droid Forum" there must be 30 different threads on this topic. If you use the 'search' function, I am sure you will find more than than enough information about the Pros and Cons of each Launcher/Home Screen.
It comes down to a matter of personal preference. Try them all, then use the one you like best.