I've had more than a few rounds with it. There's a local Cigar Bar that makes a killer fruity Absinthe-rita. Considering the cheap stuff is 110 proof, it's a good way to get hammered fast. Shots are NOT the way to do it, unless you like spending the following day crying into a bucket <img src="/ubbthreads/images/graemlins/wink.gif" alt="" />. The Traditional method is easy enough, Sugar cube, cold water, and a bit in the bottom of a glass. I agree, it does take quite some time to start feeling the alcohol this way. Try pouring a small amount into a dish, and placing thinly sliced apple wedges in it until they soak it up. Quite tasty that way.
Oh, one last thing.... Does NOT mix well with Tequila!
I've tried a few brands, Lucid being the most expensive domestic brand. Absente is the cheapest I have around here, about 60$ a bottle. Lucid is more around 80$. A friend of mine made a special trip to Germany and brought a bottle back. Not sure what the proof was (probably stronger than either of the above mentioned brands), but I do know he payed close to 400$ for the bottle... We only sipped that one.
The tequila mixer was on Christmas eve 2 years ago. To this day, anything that tastes like Licorice make me retch <img src="/ubbthreads/images/graemlins/barf.gif" alt="" />. Haven't touched the stuff since. Jager is out of the question too. This is one that if you abuse it once, it'll haunt you for the rest of your life <img src="/ubbthreads/images/graemlins/smile.gif" alt="" />