I'm still relatively new to WPF, but I have to agree with the OP. It seems like it solves all sorts of problems I didn't have, and creates a lot of problems I didn't have before also.
I'd heard that web developers would find the transition easier, but that isn't the case for me. The problem is that XAML is close enough to XHTML to make you think you might know what to do, but those instincts usually turn out to be incorrect. And that binding syntax is freaking insane. Who designed that crap? This whole thing reminds me of when the SharePoint team decided that SQL (or LINQ) wasn't good enough for their product and they had to create the unholy abomination OCAML because XML was their hammer and everything looked like a nail.