There were certainly teething problems but every week it got better and tighter. The nReduce guys have been a participant in the program as well as guides. If you were willing to put up with some rough areas in week one you were rewarded as they improved and refined the system in later weeks.

It's by no means perfect. There are startups at all levels so sometimes you feel like other groups are slacking when really they are just in a different place (or are actually slacking).

There is no penalty for failure. (penalty is the wrong word but you wouldn't want to wash out of YC--pg has anyone?) groups would just fall off.

I tweeted the other day that the monthly demo day was too frequent and I think that is true. I think they should have 2-3 a year. In the end, inclusion into 'physical' incubators/funding/press will be the measure of nReduce's success and TOO much exposure may be a bad thing.

The ui is crude but improving. Angel list was a mailing list at first wasn't it? Hard to criticize nReduce for the ui when their model is still being flushed out.

Anyway, it's been helpful for loads of groups and I see a place for it in a: nReduce -> physical incubator / angel list sort of place. HN is the same thing--a community of like minded folks who tend to help each other. nReduce is just trying to organize the process a bit...