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I've been on it for about a week.
It's okay so far, I've been able to borrow three books. Pretty easy to do.
1) I can't seem to keep signed in. I'm always having to log in.
2) You can't tell if a book is on list to loan. I've got 16 books listed to borrow but haven't gotten them yet. You can't tell the "wishlist" books from the "in system" books.
3) You can list all the books you want, but you can only ask to borrow five books a day. And I guess for me that a 'day' starts around 11 am. I think that's when I originally signed up. Took me a while to find out when my day started.
4) Searching on an author doesn't always bring up all their borrowable books. I've had to go to Amazon and find some things. Such as a search on "Sherlock Holmes" doesn't bring up "The Mandala of Sherlock Holmes" which is lendable. If you type in the name of the book specifically it usually brings it up. Just don't count on a keyword search to do it for you.
5) I haven't found a good way to find out which Amazon books are listed, either on that site or on Amazon. I've had to go through my list and check each book/author individually to see if they're lendable.
6) I'm not sure the emails always work. I've checked my profile to find a lend request and don't remember getting an email in every case. So I check often, but can't keep signed in.
But as I said, on the other hand, lending is easy. When you see a request on your profile page, you hit 'lend' and it takes you to the books Amazon page with a section above the book with the borrower's name and email address that I just cut-n-past into the amazon form and hit "lend". Then I click the bar at the top saying I've confirmed lending the book. Easy.
When offered a book, it shows up in your "Manage My Kindle" account page. You can return them early by deleting the book from there.
I still kind of like it, although I don't know how they keep track of all the books you lend and then allow that many to be borrowed, and if over time I'll get to borrow the same number. They don't go into how they keep people from just borrowing and not lending. So I haven't listed all of them, giving it a trial out. If I don't get any more books I want I'll just remove my offerings and try somewhere else I guess.
We'll see how it goes.