I think the idea is pretty fantastic. Since Polaroid isn't making instant film anymore, just take your digital pictures and Polaroidize(?) them up. Of course it's not the same as actually having a physical Polaroid but it's a nice little compromise if you're into that sort of thing. In any case, it doesn't just give your digital pics a frame that makes them sort of look like a Polaroid. It messes around with the color a bit and rocks some fantastic vignetting to come up with something that looks surprisingly authentic.
It's a fun program to keep around.
Here are a few examples of what it did to some of my digital pictures:
