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Things are looking good. First order 8/1 PM shipped 8/2 payment released 8/3. I wish the credit card companies worked that quick.
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I'm not sure who you processed with but 24 - 48 hours is standard for most processors.
As far as google checkout, goes, I think it is great so far. From my experience on my website more people use it than paypal, the only exception was the first week we had it on there.
Still, credit cards through a merchant account easily outweigh GCO and Paypal combined for my site.
The integration is ugly at best, unless you are only doing the most basic implementation. Something they definitely need to work on it the simplicity of their API. They use a SOAP XML inteface which is very difficult to integrate with unless you have very good experience working with XML API's.
The other two benefits I have seen are the fee processing fees, if you are an adwords customer. Very nice feature. Also, the icon you get for your adwords ads, definitely does draw a little attention. In super saturated adwords markets even a little help is very worth it.