Well, I'm gonna raise the dead here. I originally saw this thread back in October of '09 when I was looking for info on the Catapult. I ended up getting it as a Christmas gift and have been using it ever since. I gotta say, I love the thing. I'd been shopping around for a few months back then, and it seemed like all these other new pedals were coming out. That sexy dark grey and orange Pearl, a slick looking Taye, they were all over the place. I tried out tons of double and single pedals at all price ranges at Guitar Center. Of course they never had a Catapult for me to try out, so I was pretty skeptical. If I hadn't gotten it as a gift I'd probably still be using my old pedal.
Anyway, I'm glad I got it. To me, it's every bit as smooth as the high end Pearl and DW's I tried out, and has a slightly different feel. The conventional pedals seem to have a whippy kind of feel on the upstroke. Especially the chain drives (I'd always used a direct drive). The Cat' just feels more solid to me. I use heel up and heel down depending on what I'm playing and it feels very "natural" with both. I don't know how else to explain it except to say that it doesn't really feel like a pedal to me anymore. With my old pedal, I was always fully conscious of the fact that I was stomping a metal object. With the Cat', I'm just tapping my foot to the beat.
Believe it or not, I'm also noticeably faster with it than my old direct drive. I could never do a fast, Bonham-esque one-footed bass triplet before. Not on my old pedal, and not on any of the ones I tried out. Right after I set this one up I just started goofing around to see if the hype about it being faster was true. Five to ten minutes later my wife heard, "Holy shit! C'mere, check this out!" I learned two lessons that day. 1) Don't interrupt my wife to show her a "stupid bass triplet or whatever." 2) I'm faster on a Cat'.
I don't really fiddle around with settings on anything so I honestly haven't noticed any of the aforementioned limitations. It didn't take any getting used to either. I just set it up and started playing. I did have to adjust my ride since the bass drum has to be a little further away due to the extra length of the pedal.
All in all, I think it's a great little pedal. I'd say it's easily worth the $132 they charge for it at MF, and would definitely recommend anyone on the market to give it a fair try.