My experience has been alright with Mirena...
I'm 18 years old. I got it inserted on January 17, 2008. The first day I had horrid cramps, and would get pretty bad cramps randomly for the first month or so.
I spotted and got break-through bleeding for about 3 months or so afterwards, and then my cycle started steadying out some. My period became lighter with minimal cramps, but it didn't become shorter. Finally after about 6 months my period was back in order. I now have lighter bleeding with minimal cramps, but the amount of time my period takes has not changed any. My period has always lasted around 8 days and these light periods I'm having also last around 8 days (maybe longer), but I LOVE the fact that it has virtually gotten rid of my cramps. I used to get awful cramps that would put me in a cold sweat on the floor with nausea and feeling faint and all that stuff. My period also used to be very heavy the first few days.
As for side effects... I've never had a weight problem and it didn't lower or make me gain weight. I've always had a history of anxiety and depression so I can't really say if it has aggravated either of those disorders. I sometimes get problems with my stomach and intestines (usually just mild to moderate cramping, mild to moderate nausea, and sometimes constipation), but my anxiety has always given me GI trouble.
So, to summarize my experience... I had about 3 months of irregular light bleeding on top of regular, and sometimes heavier, periods. After about 3 months my body gradually regulated itself back to no virtually no spotting or break-through bleeding and I now have a regular monthly period again in which I experience pretty much no pain, lighter bleeding, but how long my period lasts is still the same.
All in all I'm doing alright with the IUD. The most annoying side effects are the possible GI side effects and just generally adjusting to it with the spotting, break-through bleeding, etc. It can take up to a year for your body to fully adjust to Mirena though, so I'm going to wait at least a year before I decide if I want to keep it or not. But so far my experience has been alright. I would like to see my periods be shortened and a little more predictable (they usually are predictable, but sometimes they last longer than my period used to last), but that's about it. :)