Been playing the crap out of it, enough that I'm tossing the guy his asking price ($~11 is indeed a bargain for this game, at least for me). As Hyrdo2Oxide has said, Notch (the main/only programmer) made a lot of promises, many of which he's fulfilling piece by piece. Maybe once this game moves to the 'Beta' phase, the balancing issues would smooth itself out.
I guess this game serves that wanderlust that I cannot fulfill otherwise. I just wish you could move your spawn point. Nothing more frustrating that traveling an hour in one direction, just to fall into a pit of molten lava and losing all of your hard-earned diamonds.
Oh well, maybe I'll head straight west next time (which would let me test out the boat-mechanics).
One last thing to say: For an 'Alpha' build, this game has more polish than a lot of the retail games you could see in your neighborhood BB or GS. Either this kid is a genius, a god, or both.