As a language, sorry to say, to me it feels outdated. A Prolog-like (old) syntax; a nice VM but not as fast as other VM's; yes it is nice to dynamically reload components, but I don't think that is so nice a feature to choose it over another language; light-weight processes, ok, but also, who really cares these days; functional programming, hardly, more component-based programming with a functional flavor. However, great example of a not so mainstream programming language doing fairly well.
Of course, no mention of Erlang is complete without mentioning the hilarious spin-off, "Erlang: The Movie." So Monty-Python.
