The problem with that terminal (and lots of other with 'loads of features) is that it tries to reinvent the wheel. Why would I need SSH, file transfers, command editors, etc, when all of that is done by the shell itself? If I need ssh I just run 'ssh' on my terminal, and that's it. If I need to edit a command I press Ctrl-X + E and bash/zsh shows me a command editor (vim or emacs or nano, whatever you want).
What, in my opinion, makes iTerm good is that it doesn't try to redo all the things that shells do, but instead tries to give you better access to that shell. For example, one thing which is surprisingly difficult to find in terminal programs: a drop-down terminal. In iTerm, I press Cmd + Shift + 1 and a terminal appears in the top of the screen. Quick access, quick hide, and always there to do whatever quick thing I need to do. Another feature: no space waste. iTerm does not have toolbars, buttons or anything, it's all terminal because that's all I need. Only a tab bar with multiple tabs, and if you want a title bar on split mode (optional, I personally have it disabled).
It also complements the shell in system integration: one thing which is incredibly useful is the trigger system. For example, when I'm waiting for a host to come up, I just run "ping whatever" and hide the window. When the text "64 bytes from... " appears, a trigger I configured fires and shows me an OS X notification. You can also highlight text in the terminal or do any other custom action, which can be very useful.