Awesome maybe, but the wait sure isn't. I don't know why it's NOT automatic approval...? Except for maybe the fact they don't want spammer sites listed? Either way, it's a huge disappointment and I can't see how waiting is helping anyone, or keeping anyone WANTING to use it...My as well give up and stick with Google's Analytics...
And EVEN IF it's still in a Beta stage or a testing stage, that's more users using the software with various PC setups, browser usage, and such. Resulting in more reports for that "testing", and then the developers can pinpoint issues faster and possibly squash issues faster as well.
Not approving users constantly or by mass approval only drives them away, and don't help the development of the software as a whole in general... I'd love to help test it, as well as using the software, because it DOES sound like an awesome stats software...