i had one of these for a few days before i gave it up to a friend. The desk clamp does not have padding, it's just a metal base. You can probably add a piece of cloth between the clamp and the table, it'll stll look ugly though.
My biggest complain is that the mounting bracket does not really tilt up. It tilts down just fine, but not up.
I got mine and mounted my 19" LCD on it. For $18 bucks, I can't really complain, but the vertical tilt mechanism isn't the greatest design. If you fiddle with it too much, the display will slip down. I could of used a bit more height too. But for $18 bucks vs. $50+ on other stuff, I'm fine with it.
Oh and I just used a couple sticky foam pads for the mount. Not a big deal.