I used it before switching to Carrara, and now have switched my rendering to Modo. It is quite outdated, extremely slow, has a clumsy interface, and lacks most advanced functions of modern engines such as VRay. But there is a beta of Flamingo 2 (if you own a license of Flamingo 1) which supports HDRI, post process DOF, etc. But i seriously don't understand why McNeel is developing Flamingo when they are actively building the front end to the Brazil rendering engine (which is a very advanced engine). I am starting to learn the Brazil beta now. I would suggest you check out AIR, VRay, Brazil, Fry, Maxwell...

jonah