My guild is chugging along, moving into heroics. We're currently 4/13 with Halfus, Magmaw, Atramedes, and Chimeron dead. We're working on Maloriak at the moment. Of those listed, I've seen all but Magmaw.
The heroic fights are okay. They're like ICC heroics, just the normal versions with 1 extra mechanic and the damage dealt and dps required dialed up.
Truth be told, when WoW is over, I think we'll look back at Ulduar as the high point of raiding over the game's lifetime.
Loot-wise, I think Blizzard needs to pay a little more attention to where stuff drops. There are five different epic plate healing belts, including one from reputation and one from crafting. Yet there is only one epic plate healing bracer, and it drops from an end-boss.
Or healing weapons. Putting the two healing weapons paladins can use on the end-bosses was not a good choice. I think some care should be taken that end-bosses don't share item slots or types in their loot tables.
(I guess you can tell which two items I'm missing to finish i359.)
It would have worked if people cleared Blackwing Descent before starting on Bastion of Twilight. But sadly, people don't approach bosses in that manner when multiple raids are available. They bounce around in order of difficulty, and you can almost guarantee that all the end-bosses will be killed at the very end.