Okay so it's not a massive powerhouse wormdrive cut through re-bar saw. But, it is very accurate, controllable, light, and CORDLESS! I use it for fencing work where you might not want to have to hike back to your power source every time you need to make a cut. I've also used it for decks and other shed and storage container work. Mostly 2x and 1x material. It rips 3/4 ply like butter. It's great. I prefer it to my corded skill saw mainly because it is far more controllable and accurate.
I took several posters' advice and never even installed the included Bosch blade - I went straight to the Diablo blade, I've learned they are simply better. The saw has only bogged down twice. Once, the battery was dead, and the other time I managed to not notice that I was crimping the blade with the board. It behaves much better that other tools when you overstress it. For instance when it binds, the saw does not shoot out of the board threatening to remove a finger or take a chunk out of a knee cap, but slowly and controllably begins to bind before its clutch simply stops the blade from turning. If you've ever owned a BMW and taken it to it's cornering limit you'll recognize the experience; slow controllable, and easy to correct. Yes, it does have a clutch, and if you read the instructions you'll find it's adjustable depending on how many clicks you tighten the blade - in my opinion a very nice feature. I've found the saw is good for finish work, some cabinetry, but I think it really shines outside when you're decking. You can cut 4x with two cuts simply because the saw is so accurate.
A couple of improvements: the safety switch is very hard to reach (I'm sure this is intentional) but it's so far out of the way that you need to re-adjust your hand position once the saw has started, letting go to some extent of the grip while the saw is at full speed, which actually makes the saw less safe! And the depth lever is too easy to knock to the unlocked position and also not well placed ergonomically. Finally the blade guard is made of plastic, and since most of the time the saws weight rests on it, I would guess it is going to be prone to breaking, leaving a fairly dangerous situation.
The battery life is good, I mean it is a cordless circular saw! I use it in conjunction with a two pack of the drills that came with a high capacity and a slim battery. One nice touch, the saw works fine with either battery, unlike other brands, so in a pinch you can always throw the slim pack on whilst the other is charging, with two batteries and three tools I never have any downtime - maybe because I only have two hands! - and can work a 9-hour day with no problem. Overall a very nice tool to use and highly practical for many applications.