This is a solid, non-lathering performer. It is super-slick and offers good protection. I find it a useful product on days where I am particularly rushed and don't have time for a normal prep.
Hard to compare it to Proraso, they have different areas of use. On days where you have normal amount of time I'd prefer reaching for something like Proraso. On very rushed days, or while traveling with limited space this is a an excellent item to have around.
One thing to be aware of when using Cremo is that you will need to to re-wet your face throughout the shave, I find the product can get tacky quickly - but touch of water brings back that magic slip.
Everett: Hold on, now. I don't want this pomade. I want Dapper Dan.
Clerk: I don't carry Dapper Dan. I carry Fop.
Everett: Well, I don't want Fop, goddammit! I'm a Dapper Dan man.