I'll have to disagree with you there. 6.06, Dapper Drake, the original LTS release (that they took 3 extra months on) was superb in every way, and (at least for me) an improvement over the previous release in stability and features. Then the next release was rushed out the door after three whole months of development, and is the one release I ever wholly passed up.
The Latest, Greates, and Most Shiny is what Ubuntu is about. It was meant to be a more current version than w/e Debian's current release is, while still offering people a more stable system than if they used Debian testing. If you want slower and more stable, go with Lenny. Or wait until Squeeze is released, it should be sometime this year.