Despite some of the rough edges you'd expect of any V1.0 software, I feel that the underlying image processing works very well. Hope it's of some interest...
Thanks for the writeup. I had been using it for a day or so when I read your article after a search for reviews and it helped me understand the program a little better.
I think that it is a very good converter and the files that I have processed so far with a direct comparison with LR4 are superior. Its ability to recover blown highlights is amazing and far better than LR4. As it does not have localised adjustments I do not think it is a complete editor, however as I rarely finish an image without bringing it into PS that is not an issue for me. I also like how they have a different demosaicing algorithm for cameras such as the D800E.