Yes, yes it is. I enjoy it. Definitely different dynamic than the rear rack/panniers I'm used to. I find the Panniers to be more convenient for loading/unloading/carrying more. I like the weight over the front wheel on this bike, though. A nice, roomy porteur bag would probably make this front rack ideal, but they're not cheap.

Edit: I have seen a rack that looked almost identical, but it had a lower horizontal bar that looked perfect for strapping front panniers on and keeping that weight low. Little more flexible on that one, but not sure the make. That said, my rear panniers technically mount up to this one. But if anything is loaded on top it's not ideal.