It's not too shabby. It's rough around the edges still, and development is fairly slow. It crashes every few hours, but thankfully it recovers really well -- when you re-open it, all your buffers, saved or not, are there.

I've got a fairly large investment in TextMate bundles right now (lots of custom stuff that makes life super easy for me), so I've been sticking around through the nasty alpha phase.

Overall? It's alpha quality. Just what it says on the tin. But it's not so bad that you can't use it for daily use.