What’s so great about ClearType?

So, IE 7 was installed by default over the weekend where I work for my full-time gig (and spend at least 8 hours a day staring at a screen), and I see that it enabled ClearType by default.

I’ve tried using ClearType in the past and decided I just don’t like it or see any benefits from it. Will someone please tell me what’s so great about it? What real tangible benefits do you personally see from it, and why do think that is?