I've had a bit of a muck around with it, and I mean only a bit.
There's a couple of bugs with it though the new version apparently has them ironed out. When using ToUcam I can get it to work on my PC but not on my laptop, which means I can't use it for capture which is a bit of a pain (not sure why yet). Seems to work fine with LPI, though I had to do a bit of tinkering first, but nothing too difficult. If you get it have a good read through the help files, they're not too bad at explaining how to use it.
It has a plantetary wizard for processing which is useful, but not fantastic. The learning curve doesn't seem as steep at Registax though its not as powerful IMHO in its post production tools. It's free to non commercial users (ie you and me

), but you have to copy the registration Key from the home site about every 70 days. Unless you want to pay $35 US (last time I looked) for a permanent registration key.
Here's the Home Page
http://www.pk3.org/K3CCDTools/
I like it, you know in that friendly sort of way

as its simple enough for this relative (isn't it all) newbie to understand and use.
Hope I've helped in my round about way
Paul