MSCRM: Does anyone have experience with it?

I found out yesterday that my beloved .NET application is being phased
out by a new application being developed in MSCRM. Everyone that I have
talked to is new the to the concept - our headquarters in Nashville
apparently made the decision and just tossed it in our laps.

We're scrambling to get up to date and prepared. But I am interested in
hearing pros and cons from anyone who is or has worked with MSCRM.