At first the interface looks overwhelming- the sheer amount of options that you could use. This at first seemed overly complex and fairly...tricky to use because of the number of options. Without that number of options however it would be a lesser tool, it would loose that flexability that makes it so useful as a film-maker, with use of layers. I Also learned that keyboard shortcuts are the key!
Without them things can get real murky to use, in some ways it seems simpler that imovie- which now seems more like a childs toy.
Having used Sony vegas really shortly (I couldn't work it that well) it seems really similar.
Seems like it will become really useful next year!