I had quite a bit of trouble trying to get the Gorillapod to hold my camera in this position.  Then I went to get another camera to take a picture of it in this position.   But . . .

When I returned in about a minute it was in this position. 
The lens hood struck the chair rail hard enough my wife in another room heard it hit.

I'd probably spent a couple of minutes trying to get it wrapped around the arm so the camera would
stay in place.  And as the pictures show, it still didn't.

Later I took it to a neighborhood park.  This time I tried to get it to hold the camera in the upright position on the top of the back of a wooden park bench -- a location typical of those shown in the Gorillapod pictures I've seen on the web.   I wasn't able to get it to remain stable in the upright position.  Finally I let it tip sideways with the weight of the camera holding it in this tipped position.  I'm sorry I don't have pictures of this setup, but I didn't take a second camera to the park.  However this is the bench:

Neither of the two objects I tried to attach it to were chosen, in an attempt to make a demanding test.  They just happened to be the first things that came to hand. 

With the weight of the camera holding it tipped about 30 degrees in the plane of the bench back, I tried some shots.  As many people have reported, it begins a spring like vibration when you touch the camera to press the shutter release.   

After reading several reports of this problem on the web I was expecting it, so I tried a two second self-timer.  Two seconds was clearly not long enough for it to damp/settle down.  It looked like it was taking about 4-6 seconds to settle down.  So, I tried ten seconds.  The vibration from the shutter release did stop, but a mild breeze in the park started it vibrating again, and I could see it moving when the shutter released on each of the three ten second self-timer exposures I made. 

Summary

Admittedly I had no experience using it and didn't continue to struggle with it.  Perhaps with experience you can learn to make it hold in the position you want but, if so, this skill doesn't come quickly.  

Pros:

• It's cute, odd and draws comments from strangers.

• The quick release works great.  I wish my other tri/mono pods had one.

• It's light and fairly small -- though not real small -- this SLR version won't fit it in your pocket.

Cons:

• It doesn't hold the camera in place in a wide variety of positions on almost any object as claimed.   It didn't work for me on either of the two objects I tried it on -- and this ability is supposed to be its forte. 

• It's too springy to be useful in a breeze even if it could hold the camera in place on the wide variety of objects claimed.

I returned it