They are mostly pretty awful, but I got one for my P&S, and I was pretty happy with it for a while. I tried many in a shop, and none of them worked well on my camera (really bad CA and edge softness). I took a chance on an internet one for about AUD$150, and it was actually surprisingly good (it's a semi-fish eye, .42x). Not anywhere near the quality of even the 'bad' SLR lenses, but still a lot of fun.
It fits my SLR as well, but I haven't really used it, because I've got used to better quality, and 18mm is mostly wide enough.
If you want a REAL fisheye, the Pelang 8mm seems to be fairly popular as a cheap, but still reasonable quality SLR fisheye lens.
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