I shoot a 35 mm SLR, when I do, because of the interchangeable lenses, compact camera, and internal metering. That combination means, for minimum kit, I need nothing that doesn't fit in the everready case (which has carriers for two film cans on the strap; that's over 100 exposures, total, in one package), and have an *excellent* normal lens. If I carry a second bag, I get my filters, wide and long lenses, cable release, macro tubes, and tele extenders. Add a tubular package, and my 400 mm is along as well. So, in a relatively compact package, I have quality lenses from "pretty wide" (28 mm) to "pretty darned long" (400 with 3x tele is about 24x over the 50 mm normal), lots of film, and a few tricks. And with the quality of the M42 lenses I own, I can make images on 35 mm that will stand enlargement to at least 11x14, if not a bit larger (really, a lot larger, since prints bigger than that are less vulnerable to the "print sniffers").
Yes, I'd often rather be shooting 4x5, but my Spotmatic and lens bag is the next best thing, and a lot more portable (not to mention hand holdable) -- and it'll compete favorably with my 6x9 cm folders, if grain isn't an issue.
