If you don't want to modify the widget appearances or behaviors, Ext-GWT is nice.
If you aren't building a large web-app, Ext-GWT is the way to go.
But if you're one of them people who prefer to do TDD, or unit-test etc, avoid Ext-GWT at all cost.
If you want to personalize your app, avoid Ext-GWT at all cost.
If you want a solid (library) Java code, avoid Ext-GWT at all cost.
I've been using their code since MyGWT 0.4 and right now we're trying to get rid of it so bad.