The Podcast App is OK. I like that it gives an option to download or stream, one thing I found, though, everytime you open to stream, it reloads the entire podcast instead of saving it. So if you are like me, and like to listen throughout the day, some on the morning commute, some at lunch, and some on the drive home, a 40mb podcast can quickly use 120mb of data. So, in my opion, its more beneficial to just download podcast to phone and delete when finished.
Also, I find it irritating we cannot sync the app to our Itunes subscriptions. It would be nice if I listen to one on my computer, it would update on the app as "Played" and also sync subscriptions between the devices. You can KIND OF sync if you download one from the app, listen to it, leave it on the phone and open the app, and then leave it on the phone and sync to iTunes, it should sync them. This is a little archaic to me, though, and annoying to have to leave them on the device.
Just my opinion, though. If you only intend on listening to Podcast and managing your Subscriptions through the app, it works well enough.