I've been using LMDE for the past 3 - 4 weeks (I replaced Linux standard edition with it), and I have to say I like it. Sure, it's more hands on than buntu based distros, and you have to occasionally compile stuff from source. Some times things don't work (I found a dependancy problem with one of the developer libs in the repository, for example, meaning that any compilation requiring that lib will fail). However, it's stable, based on a good foundation, won't be lead by Marc Shuttleworth's vision (and therefore, will not include the unity desktop), and if you include level 5 updates it should never need re-installing again, since then it becomes a full rolling release.
ATM some of the repositories are a little out of date, but once Debian Squeeze hits final release that should change.
Steve