Works great. It would be cool if it had audio downloading, but I figure it would have to download and demux (and then discard the video, or keep it) or utilize an existing server that does that. And I'm not sure the few that are out there would like an Android app tapping in and bypassing the ads. So, I understand if it can't be done.
I just downloaded a video (medium quality MP4, 3 minutes) and it worked fine. Downloaded fairly quickly over ~2MBit 3G, played without issue in MX Player. "How it Should Have Ended: Skyrim" if anyone's curious. Funny vid.