Yep.
I prefer Fedora, probably because I've always used it since its RedHat-x days, and I know where everything is, how everything works... and it's a joy to work with.
Ubuntu is great too, and for someone coming into Linux, it's probably an easier environment to get into (rather than Fedora). To me, Ubuntu looks to wrap the user up to an extent in a effort for them not to have to understand much of what's going on under-the-hood. (more for your general day-to-day user)
Perhaps if I was starting from scratch, I might choose Ubuntu. It has a nice update manager, and makes it a breeze to keep everything in sync. Fedora has one too, but it's not quite as flowing, imo.
Still, they are both essentially the same thing, just approached from slightly different angles, so if you are happy with one, the other will be just as easy to use.
Ubuntu is biased towards Gnome/GTK as a user-interface, whereas Fedora tends towards KDE/Qt. I use Gnome on Fedora, because I prefer the feel, which I guess makes my Fedora experience closer to Ubuntu too.
As for developing on, they are both the same. You can get all the same tools/packages for both. The underlying architecture is the same, and apps built on one should work in the other. (in fact, I've built (BlitzMax) apps on Ubuntu and ran them on a 64-bit SuSe 9 box, with the correct libs installed).
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