I have finally received my Pencil through the mail and it's been a fun experience so far. I am preparing a full review of Pencil for which I will post a link. The mere shape of it makes so much sense: once its magnet secures it to the iPad cover, you are good to go.
I purchased a Pencil by Fifty Three and cannot wait for it to make its way to my mailbox so I can decide whether it's a big fricken deal or not. I adopted and loved the Paper app from the moment it came out, and I am curious to know what it will be like to have a tool which allows for my hand to rest on the screen while I draw. My guess is, it will most likely be a big deal.