We're currently using GWT to build web-based business applications in Thailand.
Basically, if you're a Java developer, then I don't think it gets any better than this - you can share code between the client and server, and the GWT-RPC works extremely well.
The GWT abstractions means you can create cross-browser applications with a minimum of effort, and their use of "deferred binding" together with agressive compiler optimizations means that the resulting javascript will likely run faster than would be reasonably possible if done by hand.
I'm convinced that there's no way our team (2 people - my girlfriend and myself) would be able to create web-based applications as complex as we're doing in a short time using any other technology with I'm aware of.
Note that I said "our team" - meaning developers who specialize in builing enterprise business applications in Java, who only have enough knowledge of Javascript to get by on. Other developers who use a different server-side language, or who consider themselves javascript ninjas, might not find the benefits as great.
In our spare time we knocked up a puzzle site which uses GWT - see http://puzzles.radworkz.com./ We also have J2ME and Swing versions (not available from the site currently), and will be supporting Android once we get some spare time - all made relatively easy as thanks to GWT we can use the same Java source code on all platforms.