Web browsers is a pretty weird kind of software. There are a lot of them, and there is no single one of which I could say "Yes, this is the right thing!". Among text editors, Vim and Emacs undoubtedly can stand for this position. Among compilers GCC is certainly one of the best things ever. Among mail readers "The Bat!" is the way to go on Windows, and Sylpheed and Mutt on Unix are good too. Qt is a very nice development toolkit, GTK+ hath its own strengths. Troubles usually begin in more specific areas like BitTorrent or instant messaging software, which is understandable.
As for browsers, they always have been a pain in the ass for some reason. IE just sucketh. Opera is a pretty good thing, but hath some trends which do not allow me to call it a really good software. It is just being developed in incorrect way, and there is no way to correct it simply because it is a commercial product. As a result, too many bugs, too many constant changes, crappy quality. Mozilla is another case. They always lacked features, as compared to Opera, for example. With Firefox appearance, this became less of a problem, because of a lot of plugins. There is a plugin to make Firefox understand mouse gestures, like Opera's, but configurable. There is a plugin to make it load only cached images (again, like Opera). There is a plugin to block flash from loading by default. There is a lot more. But still, these plugins often tend to lag behind Firefox development, so when thou installest new Firefox version, they all just switch off. Thou hast to wait. And if some plugin development just ceased, there is no way to make it work again unless thou art a developer thyself.
On top of all that, there is a lot of web standards and ways to break them in a convenient way. Therefore, any good browser hath to support all of them and be able to handle various broken things, which maketh creating a good browser from scratch impossible. Considering all this, it is not so strange that there are no good browsers, on the contrary, it is rather strange that there are few browsers out there that we can call at least tolerable.
Bad things about Conkeror are that it is still incomplete (for example, C-k kills text to the end of the line, as in Emacs, but there is no way to get it back with C-y), and, what is the worst, it is incompatible with "normal" Firefox extensions like FlashBlock and such. Not good at all, I can cope with no mouse gestures (why would I need them now, using keyboard?), no cached images only (with a decent bandwidth it is not a problem), but flash block is another story--this flash is too... flashy, yeah. Well, maybe there is a way to make them work together--if flash player plugin worketh with Conkeror, I see no reason why flash blocker plugin should not.
Anyway, it is a pretty fun thing worth trying!