Not sure if it will ever stabilize as people will lose BitCoins.
21 million isn't a lot.
I agree though, I think # of transactions (specifically those not including mtgox and friends) are the best way to value it.
21 million isn't a lot, but once it reaches 21 million, i think it goes into 9 decimal places.
so lets say its capped at 21 million, each bitcoin is 500$.
.01 bc, .0000000001 bc, different values, different sized transactions are available.