Yes. It uploads much quicker than YouTube, but it beats down the file quite a bit.
I put up some rudimentary animation, and on my set up it gets stuck a bit here and there. If you let it play through first, like you do on a slow connection with YouTube, it just starts over with the streaming and runs the same.
When I put one of my silly animations up, I accidently uploaded an old version. I can't figure out how to swap it for a newer one. I posted a how to question, but it is very lonely. No one has responded, yet.
Personally, I like the idea, and think the management was wise to open up the option. I am working with some young folks in their production company and plan on doing a short documentary on some successful, creative business models as a trailer for a project. The possibilities are endless.
I know some writers balk at the feature, but writing for "film" is a valid venue and has been for many years. Even if you don't use a script, it is still the same thought process.