Having compiz rocking for feisty would be really nice. Since the previous version didn't work really fine on my desktop (ATI card) I've decided to update the feisty package to 0.3.4 (if you opened bugs on launchpad that would be nice to try to the new version and update them to mention if they are fixed or no) and to give it a new try.
The new version works pretty fine on my laptop (intel video card), not that fine with an ATI radeon 9600 card apparently: the window were not refreshed correctly (GTK widget all grey when opening a window and only displayed fine after resizing the window).
Yesterday gandalfn, who is doing some work around compiz packages for Ubuntu, suggested some xorg option to try to get compiz better.Using 'Option "AccelMethod" "EXA"' fixed that problem and now compiz is working correctly.
There is still some features lacking at the moment to make the switch to compiz easy. One problem is that it doesn't use the keybindings previously configured with GNOME capplet. Another one is how workspaces are working. The NEWS from compiz 0.3.4 mention "Support for multiple desktops (workspaces)". The desktop switcher applet still doesn't agree with compiz apparently (ctrl-alt-left or right don't change the workspace selected on the applet which is confusing). I know there is some libwnck patches available to make it work better with compiz, they add some API though, which means that if we use them and upstream decide to go a different way we will have to break the libwnck package ABI when switching to the upstream version which is not nice. Once those problems fixed compiz will probably be very nice to use ;)