The $39.95 Mac application (also available in a two-license Business Edition for US$89.95) starts with the usual tasks of syncing contacts and calendars whenever you're in Wi-Fi range of your Mac, but then adds syncing of music, videos, podcasts, and photos to the mix. There's a built-in ringtone editor for creating your own ringtones from your music, and syncing PDF, Word, Excel, and PowerPoint documents is a snap.
If the screenshots of the application are any indication, Missing Sync for Palm Pre uses the tried and true user interface found on its siblings. Mark/Space has also announced that they are developing a Fliq app for Palm Pre (four Fliq apps are currently available for iPhone) to provide syncing of Safari bookmarks.
I'm sure there are a few Palm Pre owners out there who read TUAW; if you're one of them, could you let others know how this product works by leaving a comment?