My friends borrowed ours for their May 2005 trip and loved it. The Pal would tell them of shows and attractions, but more importantly, it would let them know where the characters were, especially if they were near.
I had read that it was annoying at times, however, my friends did not see it that way. In fact, they would never go to WDW without one.
When you read other reviews, be aware that they just released a new version of the Pal Mickey, with improved volumn and software, so there is a version 1.0 and 1.1. Version 1.0 is what my friends used.