I think many of these comments are failing to mention one of my primary reasons for using vim... the power of being able to use the same editor in a GUI and a shell. It takes me at least a day to setup my workstation for development but if my laptop crashes I can always SSH into my workstation VPS and get work done. It's also nice to be able to edit server configuration files with the same editor that I write code in.

Vim isn't for everyone but if you're a power user that wants to master one text editor and use it for the rest of your life then Vim is that text editor.