Welcome to the forum, Chip. Have you played around much with the beta? I downloaded it on my laptop, but haven't spent much time in it. I know it's a beta version, but it's prohibitively slow on my laptop (not the fastest machine).
I think I'll get version 3 when it comes out since I'll still get student pricing, but I guess it depends on how much better it is. Any thoughts?

Adobe now has Lightroom 3 beta out. You can download for free at http://labs.adobe.com/technologies/lightroom3/?sdid=FBTFA

-Chip-

I think its all about which program you started using when you started, i prefer LR over Aperture, but thats just my preference - i started with LR, didn't try Aperture till later.

Good. 'Cause I don't feel like switching!

I'll buy Lightroom the same day I buy a Canon DSLR ;^)

but seriously, there's not many other things You can do in lightroom that can't be done in aperture, for me the main difference is the way how You operate with pictures, lightroom is divided between steps, while aperture has an all around approche - you can do whatever You want from whatever You want, don't need to jump between steps

none :)

What are its advantages over Aperture?

Amazon selling the full version lightroom for $130 on the lightining deals page. That's a pretty nice price (although an update is due soon).