I got generally the same [good] results as Tom...picked up quite a bit more than Spybot, and seemed to deal with it effectively too. For being a Microsoft product and a beta version no less, I'd say that I'm pretty impressed.
Of course, the downloaded versions expire on 7/31/05, and based on their findings of number of participants in SpyNet, my guess is that they'll start charging for it soon thereafter.
I plan on living forever. So far, so good...