<p>I was just shopping for filament, and saw some glowing claims about PETG being as easy to work with as PLA, but as strong as ABS, and less brittle. Anyone know if that's actually true, or what the tradeoffs are?</p>

PETG is great stuff to work with. It is stronger than ABS also. It prints slower than ABS and PLA. The formulas vary quite a bit from vendor to vendor. I have used 3 brands, and each of their properties vary.
From my experience you do have to be careful with moisture. You'll be able to tell you have moisture in your filament if you start hearing a slight hissing and popping and an increased number of structural zits on the object. Moisture will also increase the problem listed in Mark's post below regarding the accumulation of filament on the nozzle.