Easy on the eyes when it gets dark. iOS is blinding when I turn it on past, say, 9pm, especially since I have flux on my computer. That transition is jarring.
Having flux might improve my sleep cycle, certainly hasn't hurt :)
f.lux doesn't reduce overall brightness, it reduces the blue end of the spectrum. This makes the screen warmer, and is supposed to be good later at night since blue light specifically is what triggers production of the chemicals that keep you awake.