pretty straight forward... i copped it just recently myself and has been cool so far... incedently i think they're still running a $50 rebate... since street price is @$150 cost is just $100...
$100, I'm bummed, I paid $170. Still worth it, though.
As for pre-made beats, you can edit to your hearts content or just go with what they have. You can have a whole song laid out in a minute or two then go back and fill in all the fun stuff.
The one thing I noticed is I recognize when other people use it and I always think, Hey, they're using my drummer.