Possibly a little more plasticky than I expected when I first opened the box, but not bad and hardly surprising for something made of plastic. Will probably look less stark once it gets dusty! No complaints for its functionality as a USB hub(additional info: cable length 1.4 metres).
The sound effect is realistic and loud enough and the light fades in and out nicely (I had a fear it would simply blink) -- so the overall effect is good. I have a small qualm over the light being on all the time when 'not vanishing' since it's a fairly bright blue LED and can be distracting. Otherwise, this product would be difficult to improve on.
Update: here we are six years on (it was a snip with the Tardis of course), still works in all respects and still looks good. Obviously I'm a 'grown-up', but I have to say that I feel pretty cool to have it on my desk. In fact, I'm just about to nip back to 2006 to suggest to myself that I order more as gifts (with matters of such gravity, it's permissable to embark on the usally prohibited return along one's own timeline); with the recent rate of inflation, I feel I'll get more value for money that way than buying today, and Time Lords are nothing if not thrifty.