From what I've seen, it looks like a Flash plugin to view PDFs. It breaks my scroll-wheel and keyboard shortcuts, uses funny-looking controls, and it takes as long to load the Flash plugin as it would have to just load the whole PDF. I always edit the URL so I can view the PDF normally. I don't know why I'd want to do this to my users.
The user had to be able to understand and navigate an outside application, and what's worse, had to have the desire and memory to return to your website afterwards. iPaper simplifies the whole process and is worlds better than Acrobat Reader in terms of speed and simplicity.
Breaking a man's keyboard shortcuts and scroll-wheel is the webpage equivalent of kicking him in the nuts. It just ain't right.
http://www.scribd.com/groups/adult/7
;)
The .pdf reader in Windows that feels the most like a *nix .pdf reader is Foxit PDF. The Foxit PDF editor is also pretty nice, it lets you edit .pdfs at a relatively low level of markup and spacing.