Just as in the Lifecasting widget, this is a very early release, and while support for up to 20 social networks has been mentioned, the client currently only talks with Facebook. This isn't a bad thing, after all Facebook is one of the largest communities out there and the demographic is certainly skewed to people likely to buy a smartphone for staying in touch - but it's important to open up this service as soon as possible to other clients and sites. And to other devices, of course.
On the left, note the N97 homescreen widget - this doesn't do much more than act as a launcher for the full Web Runtime widget, shown on the right. It works at roughly the same speed as the official Facebook widget, i.e. it's not quick. RAM use is around 2MB for the homescreen mini-panel and getting on for 8MB for the full thing, so it's heavy on resources.
Showing the Inbox view - it's not currently clear how the interface will change when more than one community is supported. On the right, showing the stub message that appears when you try to bring up the Events or Requests tabs - this is, as advertised, clearly an early working version.
Posting a new status message is simple - presumably with multiple communities, this will go out to each. There's optional geotagging of your status (very cool) and a handy Quick Text system (not implemented yet) which will allow quick pasting in of common phrases (e.g. "Attending a meeting today:")
More info and downloads at Nokia Beta labs.