Just perfect. What you need most in basic SEO are here without any, in my opinion, intermediate and advance stuff (like RDFa support), which makes it light, not confusing for the majority, and not bloated.
A plugin that tries to provide everything, for me, is not a good one - and sooner or later, might end up not being maintained because of the bloatness. WordPress SEO by Yoast is definitely not that. So if you only want the common SEO stuff, then this is the right plugin for you.