I solely use it to watch Batman, Batman Beyond, and Superman...for the most part. Aquabats is pretty funny--it's by that Chapman guy who makes Homestar Runner/Strong Bad stuff and has that same sense of weird humor. It's also supposed to replicate the weird surrealism of old '70s live-action sci-fi kids shows and does a good job of it--think Batman '66 mixed with Flash Gordon and you have an inkling of what is going on there.
Animaniacs is a welcome addition to their line-up.
Frankly they have a better line-up than Boomerang of the older shows, especially since Boomerang dropped Justice League and so forth. However, to say it's superior to CN is debatable--CN has Young Justice going for it, after all. I'd say they have rapidly reached equal footing with CN, Disney, Nickelodeon, etc., though, something that should not have been so easy for a new channel and yet they have done it with seeming ease due to the strength of the new Trasnformers, GI Joe, My Little Pony, etc. shows.