Have had one for 4 years or so, works quite well for appropriately sized streams, and lakeshores. Great for backpacking, and forces a person to really think about what they need to bring fishing. I don't see myself going back to reel fly fishing anytime soon.
Also, there are a number of variants (rod lengths and actions) on Tenkara rods, so buy the one for the streams that you fish the most. Tenkara Rod Co. and Tenkara USA rods are not great examples of Tenkara rods, but, like flyfishing, there's a lot of different rods, and everyone has their own preferences.
http://www.tenkarabum.com/tenkara-rods.html