I competed in a tournament last fall sponsored by Callaway and Chrysler, and they had us on the range trying out the '07 stuff way before it was ever released (it was a focus group of sorts, they wanted our impressions of the new clubs).
I'll tell you two things about that ugly beast:
1. When you make contact, the sound is outrageously loud. I told the Callaway guy I could only assume that they did that so a weak player feels like they are really creaming the ball.
2. It is very, very hard to hit that club anything but straight. Amazingly straight.
I haven't bought mine yet (we couldn't keep the prototypes

) but there's no question I will buy one.