It doesn't give me a headache, but to my eyes it isn't remotely convincing. There's no way I'd look at any of those example pictures and not realize the blurring was done with postprocessing.
The blur is far too uniform and boring. Actual bokeh has more intrigue to it: lens aberrations, crazy highlights, wonderful patterns, even when the depth of field isn't very extreme.
I agree with bronson about the uniformity of the blur. Also, the amount of blurring doesn't change enough as the distance changes. It's better than previous techniques that have just blurred the entire background the same amount, but it still doesn't feel right. That's understandable; it's an incredibly hard problem to figure out how far away everything in the image is, and blur it the appropriate amount. I'm impressed by how well they've done so far. But there's definitely still work to be done.
