We just took the airport train a couple of weeks ago. It is fast, reliable and cheap. 45 or 90 baht depending on whether you take the express or local. We took the local and it was fine.

We had a bunch of luggage and expected to find cabs at the station. But, no cabs. Had to walk a block or so to get one on the main street. Cost was 70 baht to the Four Points Sheraton on Sukhumvit.

All and all, I'd do it again.

There is an escalator (and I believe) elevator down to the street from the station. Next time, might leave one person at the station with the luggage while the other gets a cab.

I did see something in the Bangkok papers about how the cab issue will soon be dealt with and they will be waiting at the station.