Had my first rejection the other day (also my first submission!) from a journal. I've presented at a few conferences with no rejections so was feeling naively confident, but it's a bit of a sobering process reading the reviewers comments. Although it was a bit of a battering to the old self confidence, I'm glad it's happened now (yr 2 of 3) rather than towards the end. It's also, according to my supervisors, a good introduction to academic life! At least the comments were relatively constructive, apparently this isn't always the case!
Anyway, just thought I'd share that with the class :)