I'm currently using Mandriva Linux 2006. What can I say? WINE is good thing, but it's not so fast as I want it to be. It's perfectly running such programs as Total Comander, WinRAR, QCD Player, sometimes even Winamp(but Amarok rules! :-))
As for 3D games for Windows. There is a thing, named Cedega. It's running NFS Underground II !!! I was amazed twen I played NFS in Linux! It also can run many 3D games, maked for Windows in very high speed and good quality. Cedega uses WINE libraries and costs very much. But... eMule can download it for free!
So, emulating Windows in Linux has only begined. I believe that we will soon runing Photoshop, Alcohol 120% and many other big programs in Linux.
Linux rules!