yeah I've been using this for about month now, when it was in beta with a newly written MMi deb for it (thanks to francis). Its better than installer in several ways. The sources load faster and it actually tells you what's going on during installation of apps, not just a simple bar at the bottom like installer. The search feature is excellent. Funny how It took Saurik 10 days to develop the GUI for Cydia, yet Installer's been with us for months and it lacks....
It won't ever support installer sources; the point of it is to move away from the buggy clunkiness of the Installer XML.
I've been told that the only thing stopping this from really taking off is some of the packagers' stubborness to change to Cydia, so don't dump installer just yet!
By the way, don't be scared to get rid of BSD when you install Cydia, binaries inside it do BSD's job, just install "Fake BSD Subsystem to trick Installer into thinking you have BSD installed.
Oh yes and I used putty to install mine, I think.