Google instant - what's your view?

If you work in SEO (and even if you don't), you've probably heard about the launch of Google Instant. While the impact of this tool on SEO activities and online marketing as a whole has not been fully assessed yet, it led to some interesting and funny challenges for Google ( Good news lesbians - Google Instant may soon suggest you).

While I have not been able to test Instant yet, reading about it and looking at the Google intro video for it, I do feel that it could be a rather annoying feature for searchers. And Google being Google, it comes as a default setting, so unless you change your preferences, it'll remain there.
From an online marketing/SEO standpoint I am reserving judgment until I see results on paid and organic results, especially for businesses who rely heavily on these channels for revenue.

Did you get a chance to test Instant? What's your take on it?