Okay, I bought a Zune last week. And you may ask, why not get an Ipod?
Well, I don't like Ipods, I don't like Itunes, and I HATE QuickTime.
That being said the Microsoft alternatives aren't much better.
The Zune software is pretty, it's quick, and simple. I wouldn't touch the store, since I prefer my music non-DRMed.
Now, I still haven't answered the question. It's the hardware. The large screen, the wifi, and of course the nice brown casing.
Sure it doesn't have a click wheel, but what other features does the Ipod have over this? Every one uses their player differently; If I owned a Mac (No interface with mac yet), if I used Itunes (No way to use that, ever), or if I used an mp3 player as an external driver (nope, can't do that either) maybe I'd choose a different player.
What the Zune does it does well. The sound quality is great, amazing actually. The screen is a wonderful size, nearly double the size of a video Ipod. Great for watching video on the train. The music "play" display is much greater than the Ipod, the album art takes up most of the screen.
Two other people in my office have Zunes, so we can easily send music to each other, but of course you are limited to 3 plays/3 day (and people on the same LAN we could simply use that).
And this gives me hope! It's not the greatest player on earth, but neither is the Ipod, they all have their pros and cons, and the Zune fit my usage pattern the best.