Thanks for the information, very interesting! I will definetely take a look at it. I assume you cannot use the bitUSD for paying in shops,... can you? Do you have any idea how long it takes to convert bitUSD to real USD? :)
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If you register on https://wallet.bitshares.org and create account on BitShares exchange there is provided gateway over open ledger to withdraw to fiat.
I withdraw to fiat occasionally when need fiat cash but for trading I just use bitUSD because exchange between pegged assets on Bitshares is fast and cheap. Fee is 0.001213 BTS = $0.00228 in the time of writing. This is less then cent per trade regardless of amount.
This exchange is super fast and cheap. When you decide to trade trade is performed in 2-5 seconds.
Give it a try and if you will have questions you can contact me!
Happy trading.