Been playing around with it this afternoon, and overall its very good. I was very impressed with the tiny footprint of the app itself and the use of resources, i had up to 24 tracks playing and it barely even bothered my cpu cycles (admitidly no VST or DX effects running).
As im used to using apps such as Adobe`s Encore and Sony`s Acid , the layout was all very familier , which of course can work in reverse i.e if your new to non-linear multitracking its an ideal starting application. There is a bit of learning curve if you dig deep into the app and get involved into routing but thats more due to the interface, which is a bit ugly. Thats one of the cons of the app really, it does look cheap compared to Audition and other "pro" tools.
Another problem is that it doesnt have a built in sample editor, it does allow you to use an external one (like acid does, but acid also has a basic one built in for quick edits). It also doesnt have any beatmapping functionality so its not an ideal app for phrase and loop based compositions. But what it does do well is your bread and butter mastering.
When it does go shareware, $40 is a reasonable cost (and typical of the price of "niche" software like this i.e renoise (an excellent tracker sequencer, especially if your used to Amiga and early PC trackers) and its intresting to find out that that in future versions there trying to implement a Rewire plugin which will make the application a lot more intresting to use.
Will i use it, to be honest no . im happy with my current setup, but heartidly recommend it to anyone intrested in throwing away there 4 tracks away and getting into digital recording or basic midi sequencing.