I actually bought it once - although I returned it. It was the only way to try the "actual" program, as the demo limited you to using 8 bits.
It's an EQ. I know it's hyped as "Magic" or something, but it's an EQ. It was fairly easy to "band-aid" a crappy sounding mix with it, but on a mix that actually sounded good to begin with, I wasn't impressed.
The HairBall guys weren't impressed by me not being impressed, either - I found that unimpressive as well...