I thought the exact same thing as you guys, and I really didn't want to get into trying to make a theme of my own..but I finally did, and it's quite easy!
The bottom line is, no one's going to make a theme that you like best..we each have our own unique tastes, and though I found some very good themes from talented people, I never really found something that I felt suited my tastes perfectly.
ThemeGenCE has somewhat of an annoying UI, however there aren't too many options so that you feel completely lost..you can kind of feel your way through it relatively quickly and painlessly.
The easiest thing to do is download this program and download a plain theme that you like the basic idea of. Load that theme into the program and start making changes. This probably won't end up being your final theme, but it's a real easy way to get used to the program.
Unfortunately, a theme will only get you so far. Themes only apply to the colors used throughout your GUI as well as your background/start pictures/icons. To get, for instance, that large beautiful clock display with easy access contacts, weather, and music player..you need something else.
That something, is the HTC Home Plugin (AKA HTC Kaiser Home). Couple this with the HTC Customizer (provided on these forums) and you can make that home screen look pretty darn cool!
That's really it..you don't need anything else, imo, to make your PPC look fantastic. If you wish though, there are further plugins such as the HTC Kaiser dialpad as well as the HTC Kaiser Communition manager (both look really cool with a black metal appearance). I personally don't think the slowdown from those two are worth it, however.
I hope I've helped, and just in case this helps anyone..I am attaching a theme I made last night which I'm currently using. It uses an abstract art image from digitalblasphemy (fantastic site!) for the home screen and then uses the same image slightly photoshopped for the start menu to give the start menu a sort of "vista glass" look to it. I think it's pretty neat..if you agree, I'd be happy to hear!
OH, almost forgot to mention. This theme was made for my WM6 based HTC Mogul..I can't guarantee it working on anything else, but feel free to try! FYI, it's very easy to make themes for any sized screen with the above themegence program, and if some of you guys would like my theme in a square format I'd be happy to modify it for ya!
Here's some shots..and yes, the theme properly re-positions for landscape view..