I did something similar with a couple of my projects. Our apps had a soup of Jquery, Backbone, Backbone Marionette and a bunch of other libraries, and while we didn't get 90% less code (more like 70-75%), I feel it was a worthwhile migration. The overall structure of our code base is simpler.

Angular does have its annoyances and compromises, and in some areas, it's kind of a pig (i.e., ng-repeat).

Our projects aren't massive in scope (they're targeted towards small enterprise implementations), however, so I don't think Angular's limitations will really hit us hard except in certain use cases.