I have been using Gravity Forms since its beta. I've known about it since before its inception. I've been pounding people over the head with how exciting it is since seeing a live, rough demo at WordCamp Chicago.
I am probably close to, if not THE, number one fan of Gravity Forms.
I've only had one major issue with the plugin which was easily resolved. I've found it to be useful and the more imagination you have regarding what you can do with user submitted content, the more likely Gravity Forms will be a useful, and helpful plugin to own.
I remember working on various projects, hacking together various things, and getting companies to custom code stuff that Gravity Forms would have done, or been close to doing, thus saving me and various companies huge chunks of time and money.
Gravity Forms goes well beyond the normal plugin route, and is one of the first true "extensions" to WordPress in my mind.
If you are interested in taking any sort of guest posts, contact form results, or other data, you'll want to check out Gravity Forms. I couldn't be happier.
When Version 1.0 came out, Carl had said he would freely give me a copy for the ideas, positive press, and beta testing, but I ended up spending my own money on buying a copy. That's how much I believe in this plugin. I didn't even want to rob them of my money because I want every minute they are awake to be spent on continuing to improve this really great data management tool.