If I install a bunch of programs with Chocolatey, will I end up with ten yahoo toolbars and a trial version of every antivirus product, because the bundled crapware for each app is installed by default?
If you're not happy with exactly what they've provided, it gets a little more complicated; you'll need to edit the packages (written in Powershell) themselves.
Scott Hanselman has a nice write-up/example here: http://www.hanselman.com/blog/IsTheWindowsUserReadyForAptget...
I really like the idea behind Chocolatey, but in the end the time that I spent fiddling with packages minimized any potential time savings.
However, if you're not picky about your software, just need a quick copy of something, or only want to test something out, I'd definitely recommend giving it a try.