I've been using this product for a good few months now (originally purchased in July).
The read speeds are great, but where it lets itself down is in write speeds. My Sandisk Cruzer Micro 2GB seems to have faster write speeds but I purchased the Sandisk Cruzer Slice 8GB for read speeds and capacity more than anything.
I've used this drive to make Ubuntu Live USBs and Windows 7 installation USBs as well as frequently connect it to my 40" HDTV when I want to watch a few Blu-Ray/DVD rips or to check how my YouTube videos look after rendering.
Is it worth the money? I say yes, if you want a cheap but good flash drive.
Because of the write speed - I have to give this a 4/5.