It comes with predefined preliminary practices group (can be switched off in settings). You can create your own practices and create practice schedule based on date you aim to compete practice or number of daily repetitions. It also contains a session timer - simply set timer to required length and you'll be notified when that time has passed. You can be notified by sound or vibration. Each session data (time, repetitions) is stored in database.1
So far there's one known issue: on Nexus One there's an error after taking a photo so I'm really looking forward for error report on that.
Also have a look here. This should be the centralized place for both applications, at least I've talked to them and they find it a good idea.