I was there last week on a very windy day (PMBO was closed) and it was phenomenal - very easy to get going and with the wind in your favour the speeds were crazy. I found it a lot more enjoyable than Air Race at DMP and (strangely) less nauseating, despite the much faster spinning.
As for queues, it was pretty much walk on the whole time it was open from what I saw but still the busiest ride in the park as it was generally running fully loaded without having to wait for more people to turn up unlike everything else. A lot of the time capacity won't be much of an issue as BPB is often deserted at off-peak times, but on busy Saturdays there could be very long waits. The good news is they've clearly thought about throughput, as there's a waiting area after the scanner and the bag store setup is similar to Kobra at Chessington, so loading should be efficient.