Hello! Yes I do have a chameleon which I have recently bought on the bike to work scheme. Generally speaking I am very pleased with it and for the purposes that the OP described I would say that it is ideal. It rides very well indeed - almost like a regular road bike. The suspension is a clever bit of design - it cushions the blow between both sides of the frame, but it also counteracts the negative effects of the primitive (IMO) rear triangle design which emanates from the fact that it has to fold. The effect of the suspension is similar to riding a carbon frame - a satisfying 'poing'. Given the design of the rear triangle, which mimics the atrocious non-linked single pivot designs you find on early FS MTBs, which have the potential for crap energy transfer and lots of bob, the superdense rubber thingy works well - there is good energe transfer and no bob at all. Despite what people say, you do feel the difference with 24" wheels, especially on the descents, but like anything you get used to it.
It does have some limitations if you don't want to use it just as a regular-road-bike-that-folds-up. I bought mine because I have a 34 mile round trip commute with a train journey in the middle of it. The combination of reasonable mileage and portability makes it easy to get any train I want and also to get through milton keynes station before 10am, where they stipulate that your bike must fold up in order to do this! I was also after a light tourer and so this also doubles as that.
BUT because I want to use it as a light tourer ie to carry stuff as well as to fold, there are the following limitations:
Pannier carrier: with a regular carrier (ie mounted to the frame over the rear wheel), it doesn't fold. You have to take the carrier off first. So, I have to have a seatpost mounted carrier. You remove the seatpost in order to fold it, and so I just carry the whole seatpost/carrier/panniers assembly and put the rest of the bike in its carry bag.
Seatpost mounted carrier: these often have weight limitations to around 7 KG. BBB do one which will take 10KG, more than enough for light touring and for work, so this is OK. HOWEVER, if you are a shortarse, like me, the seatpost mounted carrier poses two problems. First, it gives a high centre of gravity, so getting out of the saddle on eg a climb is very precarious and not recommended. Second, the only bottle cage mount is on the seat tower. So with the carrier on the seatpost, I don't have a bottle cage mount because I can't get a bottle in.
Mudguards: These are a no no if you want to fold it regularly. First because it doesn't fit in its bag with mudguards on, second because they get so crushed in the folding process they are always fouling on the wheel when you ride the bike. They are almost immediately bent out of shape. So, no conventional mudguards if you want it to fold. I am looking at some kind of crudcatcher based assembly to stop myself getting covered in crap.
The carry bag: This is a good idea in principle, and the chameleon bag (there are different bags for each model), is designed in such a way that even a shortarse can carry it properly. However, the bag that airnimal do is roomy enough but designed from quite flimsy material so it will tear if used regularly. Carradice also make one, which is much more sturdy, but without a lot of heave-ho, I can't get the zip to do up fully. This is probably because i have to wrestle the bike into the bag outside rugby station, rather than in the calm of my garage.
Anyway, those are the issues! You are welcome to PM me if you have any questions.
Oh yes, and this is it in the flesh
http://www.flickr.com/photos/mrmichaelwright/3628293027/
