The last couple of firmware updates have been pretty stellar. The velocity response has improved dramatically since I received by device at the end of the summer. It's still not like playing a piano, and I suspect it never will be, and probably shouldn't be, but it's a lot more playable nowadays.
The most recent update also allows you to greatly increase the dynamic range of the sensor; before the update I was able to reach the maximum pressure output very easily (too easily in my opinion), but the update allows you to set the device so that a much greater force is needed to max out the output. While this may be slightly less ergonomic, I feel it greatly increases the expressive range of the instrument.
In this regard, I think the pressure response of the linnstrument is very well suited for slow modulations (especially since the last update), and you could definitely accomplish this with the x axis response. The y axis is a little bit tricky, in my opinion. I find this modality to be the most difficult to play with meaningfully, but I expect this will improve with practice.
The pressure can be easily set on the linnstrument to output 7 or 14 bit CCs, which is what Roger is referring to in the quote posted earlier. I have found 7 bits to be adequate, but it's definitely nice to have the 14 bit option.