I think it's the best thrill ride around. It's really well done.
The freak out factor I think can be a little overstated. The first time you ride, it's a little intense, because you don't exactly know what's going to happen. But if you spend a little time looking at the set up, and undertanding there are more elevators than drop chutes, you can pretty much understand what's going on. Basically, you go up and elevator, and then you leave the elevator shaft in your car and go down a track, and then you stop and drop.
And if that doesn't work, basically, you know when you're about to drop when you all of the sudden feel like you're outside and no longer in doors. (It's pretty obvious in the summer.)
Basically, you can be sure you'll drop the entire way at least once. I think it's about 12 stories, but it starts to slow down near the bottom, so it's about a 7 story or so free fall. The drops are actually pretty mild. The part that seems to make some people unhappy is part of the random program where you might have the elevator go back up, and then reach zero g, and start to go back down. When that happens, there is a split second moment where you are kind of levitating (under your seat belt).