PostgreSQL is a battle-tested, open source database with a colorful history dating back to 1987. It has many advantages for a next project, including support for multiple programming languages for stored procedures, handling of XML and JSON, strong error reporting and logging, and window functions. It has a solid architecture with well-designed processes for handling write-ahead logs, statistics collection, and query optimization. While PostgreSQL has a learning curve, its longevity, stability, feature set and performance make it a great choice for many applications.