That's what I bought it for, commuting, day to day riding and eventually touring. I have got something like £120 worth of extras on the way to get it set up to my liking (panniers, bottle cages, d-lock, SPD pedals), I am going to be seriously skint by the end of the week!
I feel the brakes are quite good for stopping, they do requite a bit of fiddling to get them centred though and I have managed to bugger up the barrel adjuster on the front brake doing so! Just see my thread in the "know how" section for details. I just can't help fiddling though so I usually end up breaking things often