First off, this stuff tastes awful and I really wish I had known that before I bought 10lbs of it.
As for the product effectiveness I would have to say that it is a quality protein product with the correct ratio of aminos. I've been using it at 2 scoops post-workout after every workout with 10g's of some creatine mixed in.
Initially I experimented with it mixing it with milk/yogurt/different fruits to try and improve the taste. The milk made it taste worse and the strawberry flavor is strong enough to mask any fruit I added. The yogurt made it taste better, but that is probably only because it had quite a bit of sugar and flavoring of its own in it. I picked it up mostly due to the price off of bodybuilding.com and I wish I had researched how it tastes more before I bought it and just spent the extra money for something that would be more enjoyable.
It does work for a post-workout protein, but is a product that mixes best and is most drinkable with water. I've found 16oz of water and two scoops of the protein is a workable combination when mixed in a blender and just drank down for the nutrion content.
I would not recommend this product (flavor at the very least as I have not tried the other flavors made by Whey Phase) for purchase.