I started playing again after a fairly long break- I forgot to keep my save files when I reformatted my computer, which bummed me out a lot at first. But the new world that was generated is flipping amazing. My spawn point was on a fairly small island- but big enough to sustain myself. The more I struck out, the more I realized how amazing this archipelago is. There must be hundreds of islands within striking distance, and exploring it all has been a lot of fun.
There's a second island pretty close to my home island (Outset Island). At first I thought it was a bunch of tiny islands because it looked like the ocean cut through them, but after exploring inland in more detail I realized it was combination of lakes and rivers. One lake in particular is due to a gorgeous waterfall coming down from the top of a mountain. I realized with some minor adjustments, I could essentially turn the lake into a giant river that snakes through most of island. There were just some points that had clogged up that had to be cleared, and it needed to be widened a bit to make it easier to traverse. After exploring most of the second island, my best estimate is has about 60 times as much land mass as Outset Island. It's so huge, I haven't even circumnavigated it yet (though I've seen the edges at all 4 compass points). That's partly because I was more curious about the interior and worked at establishing a base of operations near the waterfall, and also I've been building pylons to serve as land marks so I don't get completely lost (its pretty necessary- on one voyage I got turned around and next thing I know, I'm a on a mostly desert continent and couldn't find the ocean).
I started working on connecting the islands via a series of tunnels too, just for fun.
It'd help if I could find some red stone to make some maps and compasses though, because there's so much ocean its so easy to get completely lost (I was almost next to Outset Island when I got lost the first time, its just the blocks went out of view and I got really turned around and without any landmarks or a compass, everything looks almost the same).
Haven't even started to really explore the other islands (though I've touched down on about 4-5 of them briefly).
Naming all the different islands is going to be a challenge too. I'm thinking Lava Falls for the second island, because there's 2 really prominent lava waterfalls near the mouth of the river that leads toward the waterfall in the center of the island. I was thinking maybe Heartland too, because there's a rock formation near the two lava falls that looks like a heart with the negative space. But that's kind of lame.
Never had a world so geographically interesting though, it just makes everything that much more exciting. A lot easier to die when wandering around though...