Speed Dating: anyone tried it before?

I came across an add for a speed dating event that's coming up at a local bar. I laughed when I first noticed it, thinking it would probably turn out like some sort of hilarious disaster in a sitcom. Then I started to wonder if this might be easier and more serious than OLD websites. The event is specifically for ages 35-45 on that particular evening. They charge $40 for a ticket and that just gets you in the door. I'm considering it and was curious if anyone here has tried speed dating? If so, what's it like? Any tips or warnings if I do go?