I don’t get Launchpad. It may be a cool feature if I didn’t have the most often used applications already in the Dock. As it is, the feature set seems a bit duplicative. If you have an iPhone or iPad, you should already be familiar with the UI–drag related applications on top of each other to create folders.

By default, Launchpad displays all the application icons in grid format in alphabetical order. And, when I say all, I mean all, including rarely used utilities like ColorSync Utility, Dictionary, Java Preferences, and Boot Camp Assistant. It will take some organizing for Launchpad to be useful.