This is my favourite eyeshadow palette! I love every single colour in this palette which is rare for an eyeshadow palette (usually there are a few odd colours you don't like in a palette).
These shadows are very pigmented and go on smoothly. There is a good balance between shimmery/lustre and matte shades.

I use this palette to create both neutral day-time looks and more dramatic evening looks.

Also, the value you get is GREAT! If you were to buy these colours individually from MAC, you would have to spend much more.

I like this palette mostly for the colors. The shades are rich, warm tones that have the texture/quality of a typical MAC shadow. While the palette itself is expensive, you are essentially paying half price (than if you were to buy each shade individually). Most of the colors are original/exclusive to the palette, with the exception of just a handful of permanent shades. I like this palette a lot and think it's very beautiful, but I don't think it's anything out of this world.

I just want to note that there is a cool version of this palette, the Cool Neutral Palette, as well.