To play fence-sitter for a moment, I won't be able to tell you what I think until I've used it.
Ignoring that, though, from what I have seen it appears to be providing the communication benefits that have recently been explored by social networking sites, while cutting out a lot of the potential for the egocentricism that seems endemic to places like MySpace, Facebook, Twitter and the like.
If it delivers on that, then I shall be very pleased. It'll be good to be able to once again focus on the interaction with my friends, rather than the banner at the top of the page with their name on it.