Another Day, Another Drupal

Prior to one week ago, I had never heard of Drupal. After the reading and podcast/slidecasts I've seen today, I'm thinking that I may have to work with it in the near future. It sounds like Drupal relatively easy to work with, but I've learned to take such promises with the proverbial "grain of salt". Do you have first-hand experience with Drupal? If so, what is your take on it?