My verdict: I've made it a point that Swagbucks not take up more of my time than I already spend on the computer. I just use the Swagbucks search engine to do my regular computer checking of emails and blogs and such. So, it's possible to get free stuff without hardly doing anything.
Apparently if you install the toolbar (not compatible with my fabulous Google chrome), you get points just for having it when you go to their website and you get secret codes daily (another good way to get bucks without doing anything). If you've got more time, there are other ways to win: surveys, coupons, watching video clips, etc. I haven't explored any of these options. But it seems if you had a lot of time to kill on the computer (which I really don't), you could be getting gift cards a lot faster. I just like that I can get the occasional freebie for doing nothing more than I usually do.
If you want to sign up, you get 30 points to start out if someone refers you. The links in this blog post will refer you from my account (no idea what having a referral does for me... but you get the introductory 30 points) and you get an extra 30 points if you sign up before Saturday and enter "JoinIn2010" when you sign up.
So that's the info I was hoping someone would give me 2 weeks ago. And now you have it. Whether you wanted it or not.