Yes, I am. And no, it's not. It's not complex, but it is cumbersome. And if you miss by one spot, there is no arrow to simply nudge it, or DEL key to delete that direction. No, you have to start over.
The magnifying glass is probably the most frustrating part of the iOS experience for me. It takes so long to find the perfect spot and sometimes I accidentally tap somewhere and I lose the spot! I hope they can find a more intuitive way of selecting text. Maybe using gestures?