As a multi-touch device the Bamboo leaves us a little cold. There are times when it simply doesn't work reliably enough, and it's a rare computer user who claims a touchpad is a good alternative to a proper mouse. Even with Windows 7 supporting multi-touch this isn't the product to bring it to the masses.
Working with the pen is intuitive and natural, despite the stylus' lack of weight.
The pad is incredibly sensitive – with a bit of practice, drawing on the pad feels natural. It's much easier than attempting to sketch lines with a mouse.
The 1,024 levels of pressure sensitivity help, and the price is keen as well – this the perfect beginner or hobbyist's graphics tablet.
The multi-touch aspect is over-hyped and under-realised. A lot of the time it simply doesn't work as well as advertised.
We certainly can't see it being as useful in Photoshop as the ability to draw natural-looking lines straight onto a piece of digital canvas.