I actually really really like the translucency. It just looks really beautiful in my opinion.
However I don't like the performance issues it causes. It's almost 100% fine on my iPhone 6 but on my iPad mini 2, there have been issues from the very beginning. Even on iOS 7.1.2. CC and NC still lagged when they were being used on lock screen or over a keyboard. Siri animation has always been a little... Off, as well. Pretty good on home screen, still not perfect though. It struggles most everywhere else, however. Oh, and rotating with the keyboard lags pretty bad if you don't have reduce transparency turned off. It's kinda a mess on A6-A7 iPads. I've heard it's a lot better on the Air 2 but I've never actually used one myself, so.