It will soon be released, and I'm already up N running 12.1 RC 1, it's performing well after some minor tweaks.
First of all, if your running a NVIDIA gfx card, you might have some issues booting you're machine, but that's easy to fix, in Grub, add the following as a boot flag:
After working around that, it's just a matter of adding it as a persistent option to Grub. The easiest way to do is to open YaST and go into boot, select your boot entry and add nomodeset at the end of the boot options.
It's a good sign that most stuff just works in this RC, and I believe that the new openSUSE release will be able to pull over some Ubuntu users due to Unity not being all that good.