What do you like best?
Raw processing is amazing in this software, and there is no other software in the marketplace that makes tethered shooting as much of an ease. While there's absolutely a steep learning curve, once you learn the ins and outs of this software it's a huge asset. Some of the best perks are the ability to convey more information to offsite teams- such as being able to set up a Capture Pilot session for an offsite art director, or being able to send layered files to a retouching/editing department with annotated notes. I've never used software that handles adjusting colors so well.
What do you dislike?
There's not an ideal solution for when a session or catalog becomes corrupted- I've managed to fix them several times, but it doesn't seem like there's a reliable solution. While this isn't the end of the world for my workflow, it has held up shoots before. In addition, the tethering can be quite fussy in regards to needing specific cords and power boosters, which is especially obnoxious with the new MacBooks, but not the end of the world.
I really wish layering & masking in this software was enhanced as well. As mentioned above, the color abilities in C1 are so superb, but unfortunately masking is so awkward that it's not always an efficient software to make chances in.
Recommendations to others considering the product
It's somewhat expensive, but send yourself or someone on your team to become Pro Certified. It's $500 and comes with lifetime updates to the software and really teaches the ins and outs, and ideal setups for tethering, file organizing, etc. You become certified for Phase One medium format cameras at the same time, but it's very worth it. Also, stop comparing it to Lightroom- they're completely different once you learn more about each.
What business problems are you solving with the product? What benefits have you realized?
Primarily organization and workflow enhancements. The raw processing is really superb compared to Photoshop/Lightroom, IMO.