I bought this for and use it more or less exclusively for the under eye area. It's marketed as a full coverage concealer, but I'd say it has a medium coverage (possibly buildable to full coverage, but then you'd need to lay it on really thick, which rarely is a good idea if you've got any fine lines at all). I actually really like the formula for the undereye - it's gentle, has a creamy smooth texture and is slightly moisturizing without being oily. Pot concealers tend to look dry and cakey on me when set with powder, but this doesn't. Overall it just feels very good on the skin, I've got pretty sensitive skin around my eyes, and I've not experienced any irritation or dryness whatsoever. I have the shade Lighter than light, which is pretty much the same as my skin tone. In other words, it works well on my fair skin, but it doesn't exactly highlight. Set with powder (I mostly use Laura Mercier's Loose Powder) it doesn't crease and stays looking fresh throughout the day. It does settle into a few fine lines that I have, but I've not yet found a single concealer that doesn't, and it doesn't exaggerate them an awful lot, or anything.
The worst thing about this concealer is definitely its packaging. It's really rubbish, especially for a product in this price category. I've handled it with care (never dropped it or even travelled with it), but after just two weeks of use I noticed a small crack in the lid. I've seen countless reviews mentioning the quality (or lack thereof) of the packaging. Thebalm really needs to address this! The plastic is horribly brittle.
+ Cruelty free
+ Nice, creamy formula for the undereye area
+ The pot is a bit wider than many other concealer/cream shadow pots, which makes it possible to pick up with your finger despite having long nails
+ A few beneficial ingredients
+ 9 shades, and a range that cater to both ends of the spectrum - really fair people and people of colour
+ Pretty good coverage...
- ...though not full coverage, as it claims to be
- Majorly crappy packaging quality wise