it's pretty good for privacy. But it is slow like myelbow4 says. Also, you only get one IP at a time, so it's not good for using instead of proxies in IM software.
The majority of tor exit nodes are spread worldwide and are not necessarily hosted in a data center. It's like a huge proxy chain which is good for privacy but for that reason it is slow.
What a lol!
Tor is monitored, it is easy to track TOR's users.
Most of TOR's nodes are located in the universities or under government control.
Also it is slow.
Also its servers IPs are public, there are blacklist service which let easily block TOR's user.
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