I wish I'd taken a pic earlier in the Apple Store when I had a play with it.
My personal opinion is that it's a pretty compromised typing experience. It reminded me of typing on those 10-inch netbooks where everything is cramped and you have to type slower to be wary of errors. The keys are still 'islands' but they're notably smaller. If you're used to that size typing experience or can compromise, it'll be OK. It's probably as good as typing on a cramped keyboard gets.
I went for the 12.9 because of the screen real estate and typing fluidity. It stops being 'big' after a few days and the 9.7 ends up looking small.