I have two dogs and I wouldn't be without them. Then again though I'm a specialist canine vet so I tend to come down on the positive side when it comes to dogs 
I grew up with dogs, we've never not had them as a family so for me it would be odder to not have dogs around; the only time I've not lived with dogs was while I was at uni and then travelling/working abroad for a few years afterwards.
Yes they are a tie and they can be expensive, but the love and fun they bring far outweighs any of that for me. They don't poo everywhere, neither of mine has gone to the toilet in the house since they were puppies and they are now 6 and 8, and nor do they poo everywhere in the garden - even if they did I would just pick it up as and when they did it, not leave it to fester for days! I walk them 3 times a day, they go on the walks and I just bag and bin it, it takes two seconds and is really not a big deal. The dogs themselves absolutely do not stink, and no I'm not delusional, they just smell like clean, healthy dogs, pretty neutral really. Their feet smell like digestive biscuits 
I'm around enough dogs, dog owners, vets and vet nurses day in day out to recognise when either the dogs (or the people!) smell normal or excessively 'doggy'. Even if I was really incapable of recognising it myself, I have plenty of non-dog-owning friends who would tell me if they or my house reeked, and my Mum definitely would. Ok, they've thrown up on the floor a few times over the years but I can probably count those occasions on one hand so it's hardly a major issue in the grand scheme of things. They don't hump, don't slobber, don't chew things they shouldn't, don't eat poo and don't lick other dogs' bums (or their own!).
The major minus points to dog ownership that I come across from talking to clients at the hospital are, as I mentioned, they are a tie and you have to adapt your lifestyle to having them, and it can be very expensive, and not to mention upsetting, if they become ill. They need to be trained and need to be walked several times a day, every single day regardless of the weather or if you just plain don't feel like it. Mine do shed a fair bit (spaniels) but a quick run around with the hoover each evening takes care of that - get a Miele Cat and Dog hoover, it's amazing. Muddy paws in the winter are a pain, I do get tired of constantly washing towels and the kitchen floor, but again, it's not a deal breaker in the scheme of things. Puppies are very VERY hard work, I agree with everyone who has said that though. If you don't have a fund of available money then good insurance is a must in case of unexpected vet bills.
As an aside, if anyone is finding that their dog 'stinks' and is producing faeces that are so revolting that you can hardly bear to pick them up then as a vet I'd really suggest you have a look at their general health and especially what you're feeding them. A healthy dog on an appropriate diet should not stink and should not produce huge quantities of rancid poo!