It is better because:
- you can see the line as it is being drawn, so more precision than traditional nibs
- no need to squish it like some traditional ones
It is not perfect because:
- the line is a millimetre or two off where you expect it to be, so still not perfectly precise
- it does scratch the screen (or at least the screen protector)
- It does skip, particularly if you write or draw quickly; how badly, seems to depend largely on the app in which you use it
It says on the tin it doesn't work with some screen protectors. Mine is a Belkin's Extra Clear (or something like that), the pen works fine on it.
Until they invent a better one, or Apple uses Wacom technology, it's the best available.