You'd be doing yourself a favor if you at least had a look at it. It's not quite as easy to get started as some people would tell you, primarily because of the tight conventions. Unlike PHP and the like, it's a comprehensively structured framework from the initial generation of the application (yes, you start off with a functional application), so there is a substantial amount of information you have to work into your head as to how the components of the system operate with eachother. Coming from Ruby, there's a number of constructs that seem like they should not work, for example instance variables accessible across multiple files without any apparent inclusions... there's a lot of 'behind the scenes' operations. The good news is that you don't have to know any Ruby whatsoever before you start off with Rails, but it is adviseable that you do learn Ruby if you have any intention of becoming good.
Once you have the potentially disorienting introduction out of the way... and you might have to go over it several times over a span of several days before you finally begin to 'get it', it gets easier, and once you get it, you can roll out solid scalable applications in a matter of hours.
For large projects in particular, Rails has just about everything over PHP. It's natively more secure, it's more 'object-oriented', very good database abstraction and a vast number of constructs that can create forms, amongst other elements, asynchronous communication, sessions and logins with mere keystrokes.
You might notice that content management systems are not very popular with Rails, unlike PHP. That's largely because you can whip up your own in a short period of time, containing exactly what you want with none of the bloat, often with the help of Gems and plugins.
Once the new VM is released, I realistically expect that Ruby will overtake PHP fairly quickly, and with it all other web programming languages short of Java. Largely because of the fact it's the fastest growing programming language on the planet. It only took about 18 months for it to grow from next to nothing to one of the big Top 10. Java will succumb, but it's going to take a bit longer.