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I've been using it for three months now. I'm putting some time there setting up trades but I'm already having a small traffic increase (which is good these days!) and a bunch of pages moved from PR1 to PR2 (which is also good). If I will ever be able to get a PR3 in one of my internal pages, that would be an EXCELLENT result. I will let you know if that happen....
Overall, I think it is well spent time. I've set up some good trades, found some new good sponsors and made some news friends too. If you've not tried it, I would recommend at least to give it a try, to see if it can help your business...
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