Yeah, there's a lot of other things we use it for. We have a lot of hierarchical data that uses the CONNECT BY statement, and I hate it because it has issues with scaling and bad execution plans, so I'm working on migrating all of that to a closure table instead.
Does Postgres have an equivalent Connect By feature? Last I checked it didn't. If you don't need to scale your hierarchical data much, its pretty handy. I'd prefer to go to Postgres too.
PostgreSQL 8.4+ has recursive common table expressions. I don't know if they do everything that CONNECT BY does, but I know that they do everything that I've ever used CONNECT BY for.