I downloaded it around 8:40am Eastern time. I restarted and installed a couple apps. Works as expected. I wanted to try it quickly before tons of people started using it and it started to bog down.
One thing I don't appreciate is every app I install going into my dock. I like Angry Birds, but not enough to have it in my dock. Same goes for Twitter. I wonder if there is/will be an option to customize this? I guess Lion will have the Mission Control feature so maybe it will stop doing this.
You can't "install" to the dock. It's just a place to show shortcuts. Just drag the app off of the dock and the just use spotlight to launch it. All of the app's files are stored in the applications folder.