As I just downloaded the new PS CC I want to share my first thoughts about the new shake reduction filter. The first thing I've noticed is hardware intensity. I'm using iMac with 3.4 GHz i7, 10GB RAM and AMD Radeon HD 6970M 2048 MB GPU and after applying the filter my box was processing the file for around 2 minutes utilising almost 400% of CPU (4 cores). I've tried the shake reduction on couple images and all of them were over-processed (over-sharpened) with default setup. All needed to use mask tool to get natural look. From a photographer point of view I think it's a good add-on, though only to enhance Your pictures. Certainly it's not a one click solution for blurred pictures as it was previewed by Adobe. Below is a compilation of before, in the middle and after. I've chose a picture that I was going to delete due to small camera shake. After using the filters the image is pretty much ok. I was trying to save this image before with local sharpening and definition control and I didn't succeeded.
As You can see the fur on the first image is blurred, especially around eyes. On the middle image You can see the filter applied w/o any mask. For me the image looks way over-sharpened, especially in the areas where fur joins the background. It's a little bit similar to using the sharpening tool set to 100%. The third image is a fully processed file, where the shake reduction was used locally (through mask) and some additional PP was added with Viveza.