I booted the KUbuntu version (thus avoiding the whole Unity/Gnome issue) of Oneric from DVD this afternoon and it ran fine. Even that damned Pulse Audio managed to find both audio devices and actually remembered one of them through the whole session, so that was a major advancement on a first boot. Of course I can probably look forward to at least a small punch up with it later on.

I'd much rather just have ALSA and /dev/dspX ta very much - it works perfectly well.
I have some spare disk space so I'll give it a work out but at the moment, a tweaked Karmic installation remains my "live" system. A rebuild of some sort is likely to be forced soon though - my disk is starting to sprout SMART errors.
Plus there's lots of shiny new goodness I'm missing out on by not upgrading.
I know Compiz is just fizz n' fireworks but I've never really had an issue with it. The only relevant constant I can think of has been NVidia video cards, and there would need to be a very good reason for me to use something else. In a previous life as Beryl it tended to work reliably only when the wind was in the right direction though, NVidia or not...
Video has always been the very least of the problems I've found over the years.