I picked up Launcher for free while it was on sale in the MAS. I wasn't expecting much, but it's turned out to be my favourite launcher to date (and I have tried a bunch). My primary needs are speed and simplicity, and Launcher delivers on both. The ability to add custom commands to open files, websites, search engines and run scripts is a nice bonus feature that I didn't think I would need, but I now find indispensible.
For the price of free, Launcher is a bargain. I would have paid $5 for sure, but I'm not sure I would have bought it at the full $10 price.
I'm holding back half a star on my rating because Launcher is missing two minor but useful features. The first feature is the ability to specify the font size in the Launcher window. It's fine on my MacBook Pro, but it's too small on the big screens hooked up to my Mac Pro. The second useful feature would be the ability to reorder commands in the preferences window, so I could group them by type or whatever.