One of the first things I learnt when I looked it up is, that, while being playable with a chess-set, it is not exactly a chess variant.
The way how pieces interact with eachother is completely different than in chess. In a unique and refreshing way that is.
I must admit I really enjoy it. (as you might imagine, when I did a search on threads about it and now post in them)
I found this interesting comparison with chess:
http://www.convinceme.net/debates/5991/Arimaa-vs-Chess.html
Looks like many people who know both actually like it even better!
Main disadvantage for me really is it's low degree of prominence. And that it kinda spoilt chess for me a little by brutally displaying its shortcomings.
A typical chess position has about 30 possible moves on average compared to about 5 for checkers. Arimaa which can be played using a standard chess board and chess pieces has on average 17,000 possible moves from a typical position. Yet human players are not confounded by this vast array of options. Instead they feel much more creative in expressing their style of play and never have to worry about memorizing openings. Computers on the other hand hit a brick wall when they try to brute force the Arimaa game tree. Since 2004 the AI community has been trying to win the $10,000 Arimaa challenge prize by defeating the top human Arimaa players, but each year the humans have continued to prevail. The current Arimaa world champion also happens to be a high ranking poker player. Just google 'arimaa' to learn more about it.