Just got around to trying it now. Amazingly awesome. Love the huge world. To quote Firefly, "Yes, this is a fertile land. He we shall make our homes, and we shall thrive. And we shall call this land... This Land".
It will be far more awesome though with the addition of sound effects and multiplayer. I want to found nations!
The water phiscs are a bit finicky, given that if I dig down fast enough, it stops filling the hole and just sits above me.