I have finalized several returns today with the Form 8915-E and everything looks fine. The form automatically populates in the returns, it accurately skips the 10% early withdrawal penalty and spreads out the taxable income over three years (including an option to pay it all this year if you so choose.)  No errors appear and it should be good to e-file as is.

One note:  this is going to be a major headache over the next two years as new clients come in and don't necessarily flag this item.  Tax accountants will need to look carefully at prior year returns and confirm if a Form 8915-E was filed, and whether that means additional taxable income is present for the year.