I quite like it, for what it is. Sure it could be a lot better, but I recently did a photoshoot with a baby and its parents. A week later I went back with my iPad and we looked through all the photos and made minor edits to the pictures they liked. Once I got home, the edits were on my pc already and I could quickly finish up and export them ready for the parents to have..
Of course I'd like to see my entire catalogue, I'd like to keyword and edit metadata and I'd like to be able to press export on the iPad and have the images on my pc ready exported when I get home, and I'd love to be able to import through a camera connection kit on the iPad to my catalogue, but I'm sure adobe will improve the app and the service in time.