I've smoked a lot of weed. I've smoked from bongs, pipes, joints, pinapples, apples, coke cans, vaporizers... had magic cookies and brownies...
It was great for a while. Getting high was just a great trip. But after a while I noticed that getting high just didn't bring me to that same state. It wasn't that I was smoking too much, exactly - at the worst it was about 1 joint a day during the week, tho some weekends were bad I'd smoke like 4 Js or several bowls... but anyway even stopping for a week or month just didn't get me back to that same happy, giddy place where it started. I've since quit smoking it. Haven't bought any in more than a year now. I have had it oh... twice maybe 3 times in that timeframe just having a smoke with a friend who still does it or whatever. Still not getting me to that level of high it used to. I actually find it's kind of boring now.
But I do think it is FAR better than alcohol, in nearly every way. As mentioned, no hang overs, it's cheaper to get high than to get drunk, it doesn't shrink your brain or cause liver failure. Yes, it can hurt your lungs but there's other methods of injestion that are basically harmless (eating and vaporizing).
I don't agree that it's not addictive. It is. The THC uses up a lot of dopamine to make you feel great. When that dopamine is used up, you wind up in a state of depression. Might be worse for some than others, but one thing that is the same is that you'll want to feel happy again and for many people, they just light another one up. Bam feeling good. Until it wears off, and then you're depressed and want to smoke again. This doesn't happen if you only smoke very very occasionally because you should have enough dopamine that it doesn't all get used up, but constant smoking basically drops your dopamine levels right down to nil, which is where the addiction can start.
One thing alcohol does have over weed, tho, is it gives confidence. For some, like me, that can turn a night out into a great time since I'll have no problem walking up to the hottest chick and asking her to dance or whatever, while normally I'm pretty shy to do that kind of thing. Weed generally increases shyness, or at least quietness. It often causes a lot of internal reflection which occasionally causes paranoia. But if you're comfortable it's often not bad, just fun times.
Anyway, like anything, it's bad in excess.