Sheldon Brown has a great article on his site about fixed gear bikes, their advantages, etc.
I don't have a fixie, because I'm cheap and weak enough that I do need my gears. But I have been severely tempted by them.
Fixed gears strengthen/work on your bike handling skills - they also work on and imrpove your cadence. You can't coast - you can't put on your brakes and coast around a turn... (well, some of them do have brakes if they're smart) ... But it comes down to, you need to anticipate that a hill is coming or a turn is coming and use your feet to get yourself to the cadence or speed that you can handle that hill or that turn.
Everyone that I know who has gotten one has said that they're great fun.



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