It now has support for armatures: (skip to 1 min to see it)
http://player.vimeo.com/video/26670975?title
It essentially replaces the f-curve editor with a motion graph in the 3d view. You can still effectively edit anything you should be able to with F-Curves, and if not, the f-curve editor can be used in combination.
It has control over timing and position in 3d space instead of a per-axis control.
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