I like it, I'm using it for small projects and so far it looks perfect for the job.
However, there's one thing I miss very much that's been left out on purpose: Service/DAO/Model layers separation! Documentation says it clearly, one of the goals of Play is to avoid the "Anemic data model":
http://www.playframework.org/documentation/1.0.1/model
but in my experience the classical Service/DAO/Model layers separation saves tons of development time when the application needs to be refactored! With Play you're stuck with static methods that rely on Play-specific transaction management and peculiarities...
However, many thumbs up for: development speed, code cleanness, and in the end... fun!
