Visually is is both functional and beautiful. Drag, drop, add, and delete. Totally cool.
Applications are somewhat limited for now: sticky notes, to-dolists, favorite links and quick searches. Also, the initial start page is a bit crowded, although it took only a few minutes to customize it.
I imagine they’ll have RSS, email and other cool widgets added soon – more are definitely needed.
What’s the business model? No idea. It’s totally free and sans-ads, at least for now. No registration at all is required to use it, although to name the page you need to go through an email verification. Check it out.