Hey Guys,
First I just want to say, I am not trying to promote anything, I only say that because of what I will say may seem like it

Just so you know, I have been a long time Discreet user and I guess now Autodesk. I have use Composite/Toxik since 2007 release and it is a shadow of what it was and could have been. Yeah they screwed this up big time ;-) I run a small blog, that you can fine at
http://enigmafx.wordpress.com. There you will find some help, I hope it will help, on some of the more hidden things.
Anyway, I noticed someone say it is not as powerful as NUKE. Well I have to say that it does not have the same number of Features as NUKEX and it does not cost $8000 either. However, if you do a compare of NUKE and Composite 2012, I would say it is plenty powerful as a compositor. Don't confuse tools/features with power in a compositing app. ;-) I know and use Four compositing apps and composite is at the bottom in regards to feature count, but it is able to composite everything, it just requires a different approach. The biggest thing for people to get use to is the interface. It was said that is was bad, well that is a normal reponse when it is something new. Once you get it, it is very fast. Much faster than NUKE or Fusion. It's caching ability is unique and that is where you will see some differences to your FX-Tree compositing.
Someone also suggested it only has some basic effects. Well it has many options within one tool. such as the blur tool, which deal with blur, depth bluring and vector blur in one tool. You need to remember that NUKE and prior shake break everything down to it's lowest level, so you will have the blur tool and a vector tool etc so what looks like more tools really is not. I should also just mention that NUKE is a solid and very productive compositing tool, but it is not leaps and bounds ahead. Compositing is compositing. What they are doing with NUKEX is a different story, it is a workflow appliance and it does what it does well.
Composite also has scripting with Python, it has a great unique tool called the pxl tool. It allows for simple scripting to manipulate the pixels within the image. You can create, and modify images with it. You can create you own imaging tools basically. You can create plugins with OFX.
There was a suggestion that the Pick list should be removed. Well I totally disagree with that one

It is so much more than a tool list, you can modify it, colour code it, you can put compositions that you want to reference there and PXL tool, and presets. It is a powerful addition. But I will agree it confuses people.
Well, I will agree with everyone that it is not for everyone, many people have their own way of working. You put the same people in front of Flame and they will have the same issues with understanding, due to the way menues are hidden etc, but once you know the speed is there.
Shit, I do sound to preechy... sorry about that. As I said, I am critical of Composite all the time, I just wanted to point out that it is a powerful tool, but it is not for everyone.
cheers
Moderator edit: please use the URL tags - HB