Got a chance to use it this weekend, actually. Its a little confusing at first, since feeding out slack requires the opposite movement than the grigri (the main lobe pivots upwards to feed out slack, versus downwards on the grigri). That said, once you get the hang of it, on the cinch it is easier to keep your hand in a braking position and feed out slack at the same time. The cinch is also much much lighter and more compact.
However, reductions in size come at a price. The brake level on the cinch seems miniscule and is MUCH more pressure sensitive. There is also much less braking surface on the cinch -- whereas the grigri has that entire rolled over flap, the cinch only has an extremely small area directly below where the rope exits the device. On the grigri, you roll the rope to the right, over the braking flap. On the cinch, you have to hold the rope straight down below where it exits the device. Less surface area = less braking.
Because of this, I'd feel much less comfortable handing the cinch to someone not familiar with the device or belaying in general. Granted, that's not something you really want to do with a grigri, either -- but, with the cinch, you really really don't want to do it.
So, my thoughts were mixed. Old habits die hard, I guess. But the real reason for my reluctance? Clearly, if I used the cinch across the pond, all my euro friends would laugh at me...