The current implementation imports avatars and fields, and functions just like JomSocial.
The plugins do matter, and is where we're hung up a little right now. The current implementation has JFBConnect creating the user, which then prevents any user registration plugins from firing. Depending on the site this could mean nothing, or everything.
We're confident that we'll get an initial release (which we're going to call a test release for the CB portion) out next week. There will likely be bugs, because, as you all know, CB's been around a long time. This means that it's both complex to work with and there are so many add-ons that may cause conflicts.
In short, everyone will know when it's out, but we won't immediately be recommending that everyone go try it.