Haven't used it myself but my flatmate has it on his Aspire One. Seems very nice and it's very quick to boot (18 seconds, about the same as the OS the Aspire came with). The interface is very, very polished and has a lot of nice little touches and good use of animation without ever looking or feeling slow, which is quite an accomplishment. There's a few little niggles and oddities though; the address bar in the browser keeps focus even after you press Enter, the chat client has Google Talk but no MSN, and oddly the default search engine is Yahoo despite the aforementioned Google support. Wi-fi is a bit flaky too. It is a beta though, so all of that can be forgiven.
As a preview of things to come, it's very promising. Much quicker than Ubuntu Netbook Remix too, and there's an Ubuntu version coming at some point too anyway.
+1
I installed it over the top of UNR to replace it and it now dual boots with XP on my Samsung NC10.
First impressions are that it has a very fast, slick GUI. All hardware works out of the box for me. In my opinion it still needs:
1) The ability to customise what is available on that launcher bar (I don't care for IM and want and email icon there)
2) A better choice of packages in the repositories (I want openoffice for example, not Abiword)
3) A default email client that is easy to find. I spent 2 hours on it yesterday and still couldn't find what the default email client is or where to click on it.
4) The option to get at the "internet" options to delete cookies/history/ and add favourites. Also, it would be good if it was easy to add Firefox extensions (since its based on gecko I think)
5) Needs flash player support built in. Also needs an easy way to install codecs for audio/video. Not found one yet in the gui.
6) Needs to reconnect to my Wifi automatically upon boot. It didn't yesterday and I had to click on a "connect" button for my wifi to start.
7) Needs to give more visible control over hardware and software. Something akin to MintInstall on Linux Mint would be totally awesome.
Overall, given its a beta and feature incomplete it's an excellent benchmark of things to come. I'll stick with it and see if I can get around some of the shortcomings I've found above. Ubuntu Netbook Remix was excellent too, but really I want a Minux Mint Netbook Remix with this moblin gui and speed.
Only then can I contemplate ditching XP on the netbook (Actually that might be more tricky than I think given we have a SecureID encrypted PPTP VPN at work

)