I installed the U-Connect in my truck a couple weeks ago. The installation looks neat enough--the mic is on the driver's side of the overhead console (right against the headliner--no wire visible), and the control panel is just to the left of the A/C controls (the wire is routed between the wood-grain part and the A/C panel, without being visible). The speaker is hidden up inside the dash (they want you to mount it to the back side of the knee bolster, but I already have my IssPro TTM and the tire TM receiver there).
Functionally, I'm thrilled by the way it works, especially the voice commanding. Yes, the add-on model still mutes the stereo (you unplug the factory harness from the back of the radio, and insert the U-connect harness in between). No, it doesn't play through the stereo speakers--it has its own that you hide inside the dash.
I think it lists for $299, but my dealer gives me 15% off parts.