> > Are there any more features that might make SSH valuable?
> 
> TCP tunnelling.

Could be good point, however, in many cases you'll end up with tcp over tcp
which isnt a good idea. To point out one issue with that look here:

http://sites.inka.de/sites/bigred/devel/tcp-tcp.html

To come back on ssh, two other advantadges (forgive my worse English) are
1) RSA-based host authentication. 
2) Instead of giving in a username you can also use RSA based authentication
with a passphrase. It's shortly explained in ssh(1) (man 1 ssh).

In these days of the internet it's more like: RIP telnet :)
But ..... using ipsec and telnet isnt that bad.
Bye,

Mipam.