I created a couple of "test" installations with it. There were some initial "glitches" having to do with version numbers and updates, but that seems to have been resolved today.
It works well enough for what it is - a total "hands off" WordPress blog" (think wordpress.com here).
If you don't need the ability to handle your own plugins, and can live with one of the many distributed themes, I think it is useful. I do worry somewhat about what comment/trackback spam controls are in place (I didn't see akismet installed).
It looks like they are relying on reCAPTCHA for spam control, which might be hard of the server if you are getting blasted, but since it is their server, I guess that is their issue to deal with instead of the users'.