Feature-wise, preferences and other desktop settings imported easily with Firefox Sync's shared password system, and the unfortunately named "Awesome Screen" is the new home page shown above, from which it's fairly simple to launch your preferred sites.
Flash and HTML5 generally displayed correctly despite a few minor rendering bugs, and the curved tabs and other design touches make it one of the more elegant Android browsers we've played with. Unfortunately, many sites display in full because they don't yet detect Firefox as a mobile app, but the installation of the Phony 3.2 add-in lets it impersonate other smartphone browsers, and it seemed to work well.
We also didn't like that tabbed browsing now requires two taps to get to another page, unlike the previous version, but we imagine that was needed for the increased speed.