I bought 2 of the new hardwood pipes from MM about a month ago and they're both excellent smokers. I have smoked both of them over a dozen times now and personally I find them smokes better than a typical cob. The biggest upside of them is that they cost the same as a cob but looks way more classy.
With that said however, the varnish scent from the finish is 'extremely' strong and unpleasant when new and a deep sniff will probably give me a brief light headiness. The majority of the smell does disappear after about 3 smokes but even then, if you smell the bowl, it just doesn't smell as 'natural' as a cob or briar.
Still, for 4 dollars or so, you can't go wrong and a definite steal.