I strapped on the Leikr (& Garmin 910XT) for a 5km race earlier today.
I have been seeing consistently good correlation between the two watches in terms of distance between the two watches.
Signal acquisition is usually not usually a problem as I warm up as the watch does it thing.
The distances were 3.19miles (Leikr) and 3.12miles (Garmin).
The elevation plots are still a challenge for the Leikr - the course is symmetrical, so the plot from Leikr is not representative.
This iteration of the software is pretty good.
Now it would be cool to get more ANT+ accessories enabled - I am thinking a footpod for cadence data.
Leikr - http://www.endomondo.com/workouts/275334799
Garmin - http://www.endomondo.com/workouts/275336152