I've got one of these, to specifically replace the kit lens. It's rarely off the camera now, effectively making the nifty redundant.
Build Quality is fine (mine's taken a few knocks) and it's as sharp as a sharp pointy thing.
I've never owned a really expensive lens that focusses quickly, and as such haven't really had any issues with the focussing (though the motor is noisy). No complaints whatsoever about it, it does what it's supposed to at a fraction of the cost of the canon equivalent.
As for the mystical runes on the side......
-AD A lens with Anomalous Dispersion element(s), a special optical glass which delivery large partial dispersion ratios relative to a specific light wavelength zone.
-AF Autofocus
-ASL Aspherical Lens Elements. A type of lenses that virtually eliminates the problem of coma and other types of lens aberration. The are particularly good at correcting distortion in wide-angle lenses as well as contributing to a lighter and smaller lens design.
-Di Digitally Integrated Design. Optical system designed to meet the performance characteristics of DSLR cameras as well as film cameras. Lenses can be used with either Digital or Film SLR cameras.
-Di II Digitally Integrated Design. Lenses made exclusively for digital SLR cameras with image sensors smaller than 24mm x 16mm (APS-C). Features high resolution performance incorporating anti-reflection coating and optical configurations to compensate for internal reflections and ghosting. Peripheral light fall off, more noticeable with digital cameras, is also reduced. Also provide ideal focal lengths to cover the range desired by DSLR users. Not designed for Full Frame Digital SLR cameras.
-HID High Index High Dispersion Glass element. Minimises on-axis and lateral chromatic aberrations.
-IF Inner Focus. The lens is able to focus without physically changing its size, where optical movement is limited to the interior of the non-extending part of the lens barrel, allowing for a more compact and lightweight lens as well as closer focusing distances.
-LAH LD Hybrid aspherical elements.
-LD Low Dispersion elements which effectively compensate for chromatic aberration that is a problem at the telephoto end and lateral aberration at the wide angle end.
-MACRO Used on those lenses which have the ability to be used for close up (macro) photography. Tamron puts MACRO on those lenses that provides a magnification ration of 1:4 or greater, indicating it is capable of providing macro results.
-SP Super Performance. High performance Specifications. The first priority in producing these lenses have been superior specifications and outstanding performance free from cost restraints.
-VC Vibration Compensation. Uses a 3 coil system allowing lenses to remain compact in size. Gives smooth and steady images in the viewfinder.
-XR Hi Refraction index glass elements resulting in minimum aberration. Allows smaller lens diameters while maintaining aperture values for overall compactness.
-ZL Zoom lock mechanism. Prevents undesired barrel extension whilst carrying the camera-lens around, thus protecting the lens.
So this lens, is an APS-C designed, Low dispersion, Aspherical Lens? (not so sure about asp), inner focussing engineering marvel