I kind of like it, though I think the blue color used in the interface is a bit distracting (though I found the correct theme DLL to reshack, so I'll play with that later). It feels very fast indeed and once I had set ad-muncher to strip advertising from pages it feels no slower than Opera
The animations when you open/close tabs makes it feel very smooth, though at the same time it does look a little like many of the Adobe AIR/Flash applications that have popped up recently. The built-in task manager to handle tabs is a very nice touch (hit SHIFT+ESC to bring it up), especially if you follow the "stuff for nerds" link in the dialog that pops up. The installer allowed me to import favourites from Firefox and IE, but not Opera. The functionality to allow webpages to look/function more like standalone applications is not bad, though at all times it still feels just like a very simplified browser window. Need to play more with it to see if there's any advantages to using this function.
What I don't like is that there are hardly anything you can configure, I fear the lack of auto-scrolling (middle-click to scroll) will drive me nuts sooner rather than later and the lack of mouse gestures is perhaps even worse (though for now you could configure and use StrokeIt
as a workaround). Now to play some more...