Google Builds AJAX Apps With Java

Google has released what they call a Web Toolkit. Of course it is label "Beta," but what isn't when Google first releases something to the general public. Gmail is still in beta, which I think is ridiculous. Anyway, the Java Posse has a pretty good interview with one of the people responsible for bringing us this new product.
He describes it as a way to easily develop AJAX applications by using Java. A developer creates the application using Java itself entirely. Then the Google Web Toolkit converts the application into the required javascript and HTML and well la you have your application.
I'm all about making my life easier as a developer. Any time an IDE can complete a complex task for me or a wizard can do something for me rather easily I'll try it out. However, this sounds a little too good to be true. Creating JavaScript and HTML into something I'd push to production without endlessly digging through it and bending it to my will sounds to me like a salesman selling snake oil.
With that said however I have not tried this new product myself. I will (someday). I hope it delivers because I've lost count of the times things like this have failed to impress me in the past. If anyone reading this has tried it out let me know your thoughts?