Ok, since nobody is willing to really test this yet, I gave it a shot. Here is a little brief review of what I tried and what I think of the overall program. First off, a little background of what I am running. I have an x51v with wm5, as a task manager I use inclose mobile, and I use small menu for the battery icon. Along with ce-star, this all contributes to a 26.56mb of free ram after my pda boots up.
Now for the actual use of minimo:
Initial start of minimo:
Minimo comes out with a minimo logo before as the web browser starts, also I noticed the few times it has start my current input method (soft keyboard) appears for a brief second and goes away. After 30 seconds the actual web browser loads and looks very small as everything seems to be on vga mode already. The web address is located on the bottom, with very small menus on the corners of the bottom, and a ‘homebar’ that seems like a bar with customizable links. This all seems pretty good theoretically, but noticed that it takes a bit of effort to effective use the menus that are on the side.
Menus:
The menus overall are loaded with nice features such as creating tabs, navigating through tabs, full screen toggle mode, arrow key/jump link scrolling, desktop/ one column layout, text size, google mobile mode*, and the usually navigation commands (home, back, forward, go).
*google mobile mode is pretty interesting feature, as it seems to turn any site into a 'mobile' site that turns sites into a lite site.

left menu

right menu
Portrait vs Landscape:
Both modes seem to look very good; it would have been nice to have that as an added feature of the browser.

landscape w/ keyboard

*google mobile mode

*normal landscape
Tabs:
The tabs are really nice, no issues major issues switching between tabs for a ppc browser. The tabs are conveniently located on the top for easy access.
Overall performance: I must say this program is a real strain on the system, as ram, drops to before 10mb most of the time. But all this is going to good use as pages loads quicker that previous versions seem to be a hair faster than PIE, but still slower than the current opera browser. There have been issues running my task manager in fact any other program when minimo is open.
Input:
Issues with input can be noticed for the very start contrary to other programs that have left space for a spot that lets us choose our input, minimo has our current input pop up with a text box is selected. This is somewhat convenient, but also frustrating when attempting to enter in foreign languages.
Pros:
Tabs
VGA mode
Relatively quick web page loads
Password manager
Cons:
Rather bulky in terms of file size and use of RAM
No Portrait /Landscape switching modes
Larger menus would be make my eyes happy
Cannot switch between input modes
Overall Feel:
I think that minimo has gone a long way from what it had a couple of months ago. But still has quite a ways to go.