This is one of the products I won in my Benefit Hamper which retails at £14. I used to be addicted to black eye pencils but for the past few year I've neglected it, in favour for liqued eyeliner cat flicks. But this Benefit eye pencil glides on smoothly and the sponge tip on the other edge blends it to create the perfect smokey eye. The colour I got is extra black and is very intense, but I like it that way! Also in this awful British weather I have been able to test that it is in face very waterproof!
The only thing you have to be careful about is when using the sponge tip don't press to hard, as instead of smudging it actually erases the eye liner. But this could also mean it can be used to to erase any mistakes. So I guess its only downfall can also be seen as a plus!