I too find it looks terrible on phones. Disregarding that, just concerning with the desktop look, I found the theme is not so easy to work with compared to, say, the f2 theme (also free @ WP). So I tend to agree with others that say if you want it as is out-of-the-box, then OK, but I found myself spending too much time trying to crow-bar my objects into areas of the front page and not getting the results I wanted.
Don't try to use a child theme with this one--their CSS/HTML is terribly written. It has way too many IDs, the CSS specificity is over-specific making any kind of inheritance based on their styling frustrating, and the grid system they use for responsive design is strage and hard to work with. If you want to use this theme out of the box with little to no changes, I'm sure its great, but avoid it as a parent theme that you're basing your child theme off of.
Nice theme on computers and ipads but the menu on iphone looks TERRIBLE! You have to click on an icon over on the right of the nav bar to open up the menu.
If you want to see what I mean, open the theme demo page on your phone at http://themeid.com/demo/responsive/
Also the sidebar widgets are displayed underneath the main content instead of to the right or left.
If you need a theme that looks good on a phone then go for a different them or investigate this fully before you go to the trouble of installing and customising!