When I saw this news this morning I jumped on Cydia and went ahead and purchased it. The dev has put alot of hard work and hours into this app. From what i've experienced he has a pretty good product. Yea, it is slower (not by much tho) than USB, but it's awesome finally seeing a true wireless sync.
Yea, I know all you wire junkies are all complaining that by the time it syncs you could be done with a wired connection, but it's the fact that it can be done. Maybe I don't wanna run back in my room to get my iPod when it's done syncing, i'd much rather have it in the living room.
If Apple allows the iPod 3,1 and 3GS/iPhone HD models to have 802.11n ability, this would greatly increase the transfer speed over wifi for this app. Though that'll prolly require an update killing the jailbreak.
I'm hoping for updates for this. It's a great start for functionality that Apple should have already. If they can pull off multi tasking keeping the same battery life, i'm sure they could do this.