I use RDFa as it has the important feature of being able to say anything, even really bizarre or obscure facts (such as the properties of archaeological finds, or the number of friends Paris Hilton has on MySpace), and doing so unambiguously.
I was recently working on a Search Monkey plugin to display VCal data embedded as RDFa, and stumbled upon a couple of cases where you just need that extra little bit of data to connect things. They were: connecting a presentation to the slides used during the presentation, and connecting a web page to its primary topic so you can tell exactly what the page is about.
Its difficult to see how you would answer those use cases with Microformats, there is neither context or precision in the markup. Over time I'll want to add more detail to my RDFa to help different groups of people find my pages and buy stuff.
Dublin Core is available in RDF and RDFa, but the old DC meta tags have similar issues to Microformats and even lower active use as far as I know.
I agree with CaptSolo that while DC and other meta data standards are old hat, RDFa is a growth area. RDFa.info chronicle each new user as it comes along. I'd go further and predict that microformats will quickly die off as more people 'get' RDF and more RDF-aware tools are produced.