i am using it to sync my address book from my Powerbook, my mobile phone, my PDA and backup online. File sharing with my friends. Handles my e-mails and hosts some of my photos (in my signature below). With 1GB space to play around with it. Not too bad.
I used to subscribe. The syncing features were nice (though not perfect), as well as the other little members perks like.. free garageband loops and software (Backup, etc), as well as members benefits and discounts in buying some nice shareware applications.. The recently upgraded group feature, and extra storage space, is quite attractive too.
but if you're just talking about webhosting feature alone, it's far too basic. I own several other Linux hosting accounts and one running FreeBSD, so not having support for PHP or to run scripts on the .mac account just made it useless for me.
If you're interested in putting a portfolio online, I suggest going for a cheap-midrange linux plan. PM me if you need help..