Anyone have any experience with the working holiday program?

I'm a 25 year old Canadian who has been thinking of doing this for a long time. Has anyone done it? At this juncture, I'm curious about the odds of my application being approved (Haven't submitted anything yet), and what my best job/living prospects would be. Would I be forced to stay in a hostel unable to find a job that would hire a filthy foreigner? Any advice would be much appreciated.