I have been using Grails more than 4 months now and I will try to give you my personal feeling about Grails and its usability.
Is Grails now worth it vs Ruby or other roll your own?
Of course, the answer is not 'Yes' or 'No' but it depends. It depends on your requirements (do you need to be in the Java World?), on your preferences as well (do you prefer the domain-oriented development, do you prefer Groovy...)?
However, I can answer that Grails is a serious alternative to Rails. I believe that whatever is your Rails application, you can do it with Grails as well. But depending on the nature of your project, it might take more or less time. Again, if you are familiar with Rails but not with Grails, Rails is the safer option.
Has it overcome its buggy start?
Yes. If you take a look at my initial messages (in this website or others), I was complaining a lot about Grails bugs. But, you just need to remember that Grails is a little rough on the edge (not too much use of domain inheritance ,for instance) and once you are familiar with the framework, you don't experience too much bad surprises. I am not saying that Grails is not buggy. It is certainly more than Rails. But also, it is more usable than buggy. A piece of advice for that : use as few plugins as possible. Because many of them are buggy and some are not compatible among themselves. So, do not include grails plugin unless you are sure that the grails plugin is up-to-date, non-intrusive and tested (by yourself).
Does it really confer rapid development benefits?
Yes. You almost do not need to deal with DB design. Configuration is almost done for you from the beginning thanks to Convention over Configuration. Your application is easily maintenable. The only drawback I see is front-end development that is not as rich as other technologies (like Rails or ASP)
Does it perform for real world production apps?
I cannot say because I still didn't go my website live but I am pretty confident since sky.com is using Grails and the sites attract significant traffic - around
7 million page views per day . Again performance depends a lot on your application architecture and design decisions.
Is the Eclipse plug-in better than it was and fit for purpose?
No idea. I am using IntelliJ but I guess it is not much better than one year ago according to complaining messages I see on the Grails realm.
I hope it helps.