IWNET - will it be as good as they say?

I bloody well hope so! With the bad experiences my guild has been having trying to get Borderlands to run on Gamespy servers, I can't say I'm too fond of this dependency on developer network solutions instead of letting ISPs host games (or friends over Hamachi) - tends to result in multiplayer gaming coming to a grinding halt! Anyway I'm sure everyone's heard that dedicated servers aren't being used with Infinity Ward's new IWNET system and there's been a lot of PC gamers out there petitioning against it, more than 160,000 actually. Can't say I'm too much of a fan either but before totally bagging IWNET, I'm going to get some opinions from the rest of the guild on how it works and if they encounter any connection problems with it.