A great flash for the price. I bought this one rather than the less-expensive Canon flashes because it is the least expensive unit they make that allows tilt and swivel of the flash head. I've had no problems with range, even where I was shooting some kids doing a play in a gym from about 100 feet away.
Recycle time was noticably quicker on this unit when I switched to rechargable NiMH batteries.
If you don't want to spend $300+ on the 550EX, this is really the only good option from Canon. My next flash may be the Sigma 500 DG Super, which has 550EX functionality at a 420EX price, but there are some compatibility concerns that need to be investigated.