Sure, it boots sort of fast, but honestly not noticibly faster than CrunchBang, or a lean-and-mean Ubuntu install for that matter.  You really can’t call it an instant-on OS in my opinion.  Sure, it’s got an “app store,” but it’s really just a nice web interface for a very limited repository (and nothing we haven’t seen before, right PuppyLinux/Linspire/etc.?).  They made it only available as a .exe installer, which is useful (again, not new at all… see wubi) on the one hand, but frustrating to me that I couldn’t just do a clean install on an old computer if I wanted to.

I think the best thing it’s got going for it is that there’s no way a beginner/novice user could possibly screw this up.  I saw that they ported it to ARM as a netbook OS, and I think that’s where it should stay.