I've had Adobe Lightroom on my computer for about a week now and I've been fiddling with it now and then getting use to the new format. While there are some great features it's a little frustrating to use, as of yet, because of all the bugs.
The good points:
It has a really cool look so you can impress your friends just by having it open on your monitor.
The "tagging" option where you can add keywords to your photos or groups of photos is such an awesome tool. It makes your pictures easier to find when your searching for them later.
The way it sorts and collects your photos by shoot.
The presets are pretty good. Things like sepia, antique etc. Though I'd still rather do these things myself and adjust the pictures to exactly my liking. (which is very possible with lightroom)
The not-so-good points:
It is S-L-O-W! I'm running it on a very new PowerBook G4 and it takes way too long for my patience to get pics loaded up and to adjust when your developing them.
It doesn't import both your RAW and JPG's if you've shot in both formats.
There is no crop tool or rotate tool.
Adobe promises that the speed of Lighroom will increase with coming releases.
They are also taking suggestions on features photographers would like to see - like crop tool, etc.
My take is that while it's a great product and only seems to be improving (from what they're saying in the discussion forums) I'm going to wait until the next release to really USE it. I get frustrated with the speed right now and don't have the time to wait around for minutes while my pictures load up.
I think it will (eventually) be a great tool for photographers though it won't replace the need for Photoshop CS. I think a wise move would be for them to make Lightroom very compatible with photoshop with easy maneuvering between the two. I'm willing to wait it out and see what they come up with!