No problem locating the tag via Bluetooth, with graphical proximity indication and a loud beep. People have reported difficulties with remote location using Android Find My Device FMD. For me it worked if I set the location to "with network in all areas", so it was detected even by a single Android phone with FMD installed. Tested on my easyJet hold bag on a flight to the UK, and across London. Works much better than expected.
The network of devices supporting this standard is still very broad-meshed. In many cases I'm not able to do a localization - even in very crowded areas. But this may change soon.
It works, it's very slow to update location, and sometimes it takes more than 2 hours to update location even in very crowded areas. No history of location is available, I don't know who's fault if Chipolo or Google network, but that's my experience so far, having said that I don't see many use cases other than track objects that will be static for a very long time.