I have had a pretty frustrating experience with it so far. I think that the only way get it to work is to have it deployed as a SSRS Service Application inside SharePoint and then configure PowerView. In other words, if you are planning to install a multidemensional instance of the CTP, install your OLAP cube and then enjoy some PowerView magic from Excel (which is pretty close to what I was hoping I should be able to do), you are likely to experience the same level of frustration and dissapointment that I just have.
I wish this link was a little bit more descriptive with respect to what PowerView functionality will and will not be supported with this release.
business intelligist 