In general - I have, and still do even though out gearing it now, just, foudn that as a difficulty setting, Hell is really pleasantly fun. Inferno is bonkers so far.
post 1.0.3 i've done maybe 3 full Act3/4 clears, adn how have just enough gear to start on Act1 Hell.
Admittedly i'm down to around 12kdps, but at 38k health and around 350-400 resist across the board.
Pre-1.0.3 this would have been impossible, so i'm happy with the changes they have made. it was necessary for my sanity to purchase a 1h weapon to make the farming more sensible, but that's the only non-farmed item I own now.
A couple of other things i've noticed, though it could just be me:
Knockbacks seem to be tone down a bit (unless physical resist)
Arcane orbs too seem to have been tuned slightly.