You get nicotine and you get the physical act of smoking, but they're not right. There's an electricky feel to them that's somewhat unpleasant and unsatisfying. I think they're meant so you can getcher fix without offending others with the smell but they ##### anyway because it's about control, not smell or actual smoke.
But they do provide amusement worth the $10. Go into a restaurant or some other venue where they allow pixillated soccer mommies and their offspring and start puffing on your electric cigarette. The immediate hysterical gasps for air and frantic fanning are a hoot.