This is a fantastic application. I use it in my school not for scheduling meetings, but instead for reserving shared technology resources (iPad cart). It works super fantastic! My teachers love that they can easily see when a resource is available, its very easy to reserve something, and then I have auto email reminders go to the users to remind them to return the devices when they are done.
I absolutely think that there is a ton more use in education for this tool, but the payment structure right now doesn't allow for it very well. I'd like to see the ability to use for resources built into the pricing, but maybe it will be along soon.