Here are my thoughts:
The good: I really like the idea of having a base station with a removable/replaceable face plate. It's kind of like how See-touch is except this has electronics built in. For us at least, we were hesitant to offer Palladiom because we had no idea what the final programming would be 6 months or a year later. Sometimes with see-touch the customer would have the little plastic labels on there for months after they moved in before they figured out what they wanted. It was also nice that we could order the engraving without dealing with our supplier and going straight to Lutron. I hope that's the case here too where once we order the parts, we can just send engraving directly.
I also like that you can use the same base station/hole in the wall for 1, 2, or 3 column keypads. Nice piece of engineering.
The not so good:
It only works with QSX...I have a feeling this is the trend going forward but this is again a hostile act against existing Homeworks Illuminations, and current QS users who have RPMs. Not to mention those with LiteTouch panels that have RPMs or future LiteTouch upgrades. Doing this only makes sense if QSX brings RPM support. And not to beat a dead horse- also bring Telnet support to QS (the new integration is a not there yet).