The swatch at the left, here, was done on Rhodia, and I really smeared it around. This ink does have a long dry time, but it's very black on most papers. I never saw any shading with this black. It was just black, and smooth, and beautiful. I'm not usually a huge black ink fan, but this one makes me happy.
The draw-back to this ink is that it's really saturated. Maybe a little too thick, if anything. It doesn't flow well if you don't use your pen on a steady basis, so you'll get some hard starts. It's worth it, though.
This ink doesn't spread, and it doesn't feather. It does have a little bit of bleed on filler papers, but it's fine on anything else.
Here's the water test and review video. Check it out.
The bottle doesn't say anything about it being water-fast, but it certainly is.