I have been using this software as a complete graphics package to deal with both vector and raster graphics. Adobe Illustrator has many more functionalities than most of the other packages available in market. There are a lot of tools for learned designers and developers to deal effectively with all kind of graphics and applications, many new drawing tracing and painting tools. Apart from the traditional tasks the latest version also allows to provide you feature for creating web graphics. Very easily integrates with other adobe products increasing your productivity many folds. There is unique feature, Live Trace. To explore more about this product you can download the trial version from Adobe website. The latest version of this tool has proved to be more useful to me as i often need to deal with web graphics while creating and managing websites. And believe me this tool has excellent support for such tasks.
But unfortunately new users won't find this tool very user friendly or easy to learn. Adobe provides some documentation on how to do things but still novice user may have a tough time dealing with this.