The Dreamcast is prolly my 2nd fav system. The sheer amount of 2D games it has it worth the price of admission, all the great capcom and SNK ports, not to mention all the excellent shooters. The system still gets alot of play by me and my friends.
The problem with the DC I think is that the vast majority of the best games were Japanese only, and that kinda hurt it a bit, not to mention the fact that it was uber easy to pirate dreamcast games, and the system had almost no copy protection at all...this hurt it as well.
These days I think DC is still just as good as ever, actually better! With all the cool homebrew and Emulations you can play on it, not to mention mpeg players, mp3 players, vcd players...this system sure can do alot!
Anyways thats my take on it. I love teh DC