I saw this at Target a couple of weeks ago, and since I've been looking for something to mattify my t-zone, I decided to pick this up. The color that I picked out was Cream, which is supposed to match a Light 4-5 in the Maybelline color range.
The compact is sort of neat -- the front is clear so that you can see the powder, and the bottom part sort of swivels open to reveal a mirror and a sponge. I like this format better than traditional powder compacts because you can store the sponge separately from the powder. I also like it better than the L'Oreal True-Match powder packaging because you don't have to flip back and forth between the mirror and the powder.
It's a pretty good powder -- decently milled and doesn't look overly-powdery. I tried it one day without concealer underneath, and the coverage is sheer, but it definitely kept the oilies on my nose at bay for about 5-6 hours. (which is a miracle, given the oily state of my t-zone!)
The color was not bad -- slightly paler and less orange than the Light 4 foundation (which was good!). This, I think, is comparable to MAC Blot powder, except I actually like it better due to the aforementioned packaging. And, of course, you can't complain about the price of the Maybelline (approx. $6).
I did take off a lippie, though, because the sponge it comes with is sort of thin, hard and cheap and doesn't really apply the powder optimally. Also, you don't get that much product -- the pan is really thin.
Overall, I would probably repurchase and recommend to anyone looking for a nice mattifiying powder to set or touch-up their foundation.