I thought that, and that Balsamiq Mockups looked way too simple to be useful - but it isn't! I rebuilt the basic look of google maps in less than 5 mins...
The beauty of it IMO is it makes you think about the layout of the app/site, not the look of it.
But, saying that...I will be sticking with photoshop for my mockups, just because I DO use my mockups for the design too, but thats just a personal preference, I know a lot of people want to build the layout then find a nice design, thats where this tool is cool!
i'm with you. I've been using illustrator / ps for years now, and I'm very quick with it (my tablet helps). I probably prefer it over things like this. But, i can see power that tools like this deliver to people who haven't been a gd guy all their life.