Good, but not good enough
Cons:the loading scenes take far too long (around fifteen seconds each for a new area and five seconds when you customize your character) and happens way too often (it loads for even the tiniest tweaks to your character and when you move into a different area), there is nothing much to do once you log in except to talk to your friends or have your avatar take basic actions (such as sit,lie down or have them change their clothes) and your Playstation Home Account is not tied to your Playstation Network account (hence no trophies offered for Playstation Home).
Bottomline: good for a rainy afternoon but not addictive enought to have you always coming back