Phoenix is fast, stable, and has a lot of features you won't see in Internet Explorer for a long time, like tabbed browsing and pop up blocking. On Windows (and BeOS, actually) it's been my browser of choice for a few months now. Most of the bookmarklets, etc. that I have for [Camino] and [Mozilla] work perfectly on Phoenix. On MacOS 8.6 on the machine at home, I use Mozilla 1.2 as there doesn't seem to be a newer version for the older operating systems. Phoenix, though, is pretty cool. And it's easy enough to use that I have Chelle using it for about 2 months now and she likes it a lot better than Internet Explorer.
On snag we ran into is that plugins like Flash don't always see Phoenix as a valid web browser since when it's installed from a zip archive it doesn't put any registry entries in. There's a very easy fix [here] or [here], just follow the instructions to run the tiny registry patch then run your plugin installer again. Everything works just dandy for Chelle and myself after we did that.

There are some clever tweaks and things out there for Phoenix. If you're using Phoenix, which is far more standards-compliant than IE, you actually get some extra neato nifty features when you're viewing my blog (same goes for Chimera and Safari.... in fact just about everyone but IE users). Bookmarklets for Mozilla work great in Phoenix, and so do things like saved tabs.
Here are some links to Phoenix goodies out there that you might otherwise miss:
[Rising Phoenix]
[Phoenix Forums]
[Phoenix Compiled with AntiAliased Font Support]