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No. I've played with Ubuntu in each iteration, and its level of polish is on a magnitude below what Apple's doing. Compared to Windows, it's very nice: I'd pick Ubuntu over Vista at this point without hesitation. But OS X has polish to a level that's uncanny: it's the sort where I'm still finding out new things about my computer that make my life slightly easier every day. It's really beyond comparison to other opera…
Ubuntu is not more polished than even Windows XP. The main things keeping me from switching my day-to-day work to my Ubuntu partition are (1) text rendering, (2) reliability, (3) battery life, and (4) Lenovo's Thinkvantage tools. Windows XP absolutely kills Ubuntu in these aspects.
From my experience with it, it works great if and only if you can find the right drivers. When it runs well, I like it more than Vista and most likely more than XP. But XP is certainly more supported overall, and that's another thing that's definitely worth considering.