Is SQL Server 2005 ready for prime time? Maybe, but the docs aren't.
I'd always assumed that MS would flesh out the documentation by the time the product shipped. Apparently I was wrong. When I installed the RTM bits, I was surprised to find that the AMO documentation was still just a skeleton. For examples, look here, or here. Note the rather conspicuous blanks in virtually all of the description columns. I don't recall Microsoft ever shipping with such gaping holes in the documentation (at least, not in the .NET era). It's surprising that a company with the resources of Microsoft would do so.
To be fair, SSAS 2005 is a killer product - a huge leap forward in OLAP capabilities. Over the last year, I've really come to appreciate the power of OLAP and BI, and I suspect SSAS 2005 will bring OLAP much more into the mainstream (if you're not down with OLAP yet, I strongly recommend you take a look - it's hugely powerful stuff). Hopefully Microsoft will flesh out the documentation in the near future, to make it easier for ISVs to take advantage of.
Update - via Chris Webb, Microsoft released a December update to the SQL Server 2005 Documentation (available here). In this release they've started fleshing out the AMO documentation at last. It's not complete, but it's a step in the right direction.