I have a '65 Schwinn Typhoon with a 2 speed yellowband hub that I bought early this summer and I'm still riding it around a few times a week. Low gear is just right for getting over the hills then back to the normal gear. Use it for errands sometimes.
Pros:
• Pretty cool to just backpedal an inch or so and change gears.
• Fun to tell your friends/neighbors about it and let them try it out = amazement.
• No cables man!
Cons:
• Changes gear every time you brake. Not always ideal.
• Sometimes changes to the low gear while yer just coasting, unbeknownst to you, causing your feet to fly forward next time you pedal.
• Looks a little scary to take apart and grease.
After 30 something years of using caliper brake bikes of all kinds, a coaster with 2 gears is a nice change. But for running errands in traffic, the kickback just isn't practical. A 3 speed with a shifter would be ideal.