I've had issues with keyboards for years – the feel, the layout, the length of the cable, bugs… Don't worry about the fancy lights, this one is great.
Three things really stand out in my opinion: the keys have a responsiveness normally associated with laptop keys, but they have a reach halfway between a laptop keyboard and a normal keyboard. i.e.: they're not soggy like your standard keyboard, but you're not going to type a letter by accident just by looking sideways at it, or brushing off a bit of toast.
Second, it's USB2, and has a built in USB2 hub. That's great. I prefer having computers under the desk, but frequently need to recharge my phone, download images from a camera, plug in an external usb2 hdd or flash drive. With this keyboard that's all just right there behind the numeric keypad. And right next to that is the headphone / mic sockets, which is handy too.
Third, it's solid both in terms of weight/size and in terms of software drivers. It sticks to the desk, and there aren't any dopey problems with the software in any operating system I've tried it on to date (win xp, linux, mac os X).
The keys are a little more compressed than I'm used to. But it doesn't take long to readjust.
If you play RTS games then you will love this keyboard. You can more or less shove complete build orders into any key, and/or use the ten custom keys (five on each side of the keyboard). The battle dock thingy is a bit weird. I haven't seen any peripherals for it, but it looks like a standard mini-usb connector to me. Razer do seem quite keen on getting you to buy more proprietary gear… :)
Basically: reliable, quite expensive, more than decent performance.