Funny, I only ever found etizolam useful for comedowns (no longer use stimulants or psychedelics), or to substitute for benzos when I ran out of diazepam - been addicted to it for a couple of years, have tapered down from ludicrous doses to just high ones, and still have a long way to go. Like all downers, Etizolam is something to use sparingly, does have a buzzy warmth to it that's similar to the more euphoric, short-acting benzos, but that fades VERY quickly with regular use. I've used it as a stopgap replacement for high-dose daily valium for months at a time without difficulty (mostly the expensive depas brand, which feels much cleaner than Etilaam), and that suggests to me that the withdrawal syndrome can't be all that different than from 'traditional' benzos. But...
Unless you can get hold of Depas or Pasaden, which I haven't seen around for a while, you don't know what you're getting when you order Etizolam. The UK-manufactured dark blue etilaams are either very poorly made or contain some other RC benzo, the RC pellets are completely unpredictable, from inactive to possibly phenazepam, and fake Etilaams seem to be spreading. It could turn out to be the meph of downers, as it were: insidiously addictive (but with a far more serious withdrawal syndrome than meph), more prone to inspire redosing than Valium et cetera (or that could just be RC-recklessnes, as with meph), often contaminated or 'mislabelled' and widely used by the largely benzo-naive. Taken occasionally for comedowns or to chill out on, real etizolam's just a decent pseudo-benzo: and as such, used carefully, is probably - probably - relatively safe. But it is pretty much a benzo: really shouldn't be mixed with alcohol unless you have quite a tolerance, and even then, it's not a great idea.
This thread's a little worrying - there's tons of garbage on the market, a lot of people seem to be overly trusting of vendors, and I don't think we should buy the 'more forgiving than benzos' line on trust - every successive generation of pharmaceutical is proclaimed less dangerous than its predecessors, 'this one isn't addictive, there are no serious side effects': that's what they said about heroin, coke, amphetamines, barbiturates, benzos, phenothiazines, SSRIs, and the Z-drugs: all of which are addictive and can kill. It takes a generation or so of widespread use before side effects become apparent - and pharmaceutical companies always massage statistics to make them vanish.
This drug remains a relatively unknown quantity, and given that it's been infected by RC-vendor greed and dishonesty, if you're new to downers, I'd say, don't try them - you can end up hooked before you know it, and they're in some ways tougher to kick and leave behind than H or oxy - but if you must, then start with something tried and true, like Valium (not exactly hard to find), don't drink on it, and research the compound carefully before you start. Etizolam is RC xanax - it may turn out to have a sting in the tail, and be to a;prazolam what 4-MMC is to MDMA - and should be used in the knowledge that it's probably as addictive as any drug can be, with a potentially fatal withdrawal syndrome after long-term use.
I can't tell if it's more likely to induce amnesia than benzos proper, or whether it just seems that way because so many downer-virgins are popping their cherries on it: but reports of weird side effects (twitching eyes et cetera), suggest to me that it has properties, probably negative/damaging ones, unique to its particular structure. Approach with care - this one has all the risks of a relatively novel pharm and an RC, and the long-term consequences of heavy use are anyone's guess. The amnesiac effect can lead to compulsive redosing: so put the box or strip out of sight when you try it for the first time, start with 0.5mgs, don't try it for the first time on a comedown, and read up on benzos before you start. Sorry to be so didactic, but a lot of Bluelighters have found (myself included), that benzos can be the toughest drugs to get away from, and as an idiot who made that mistake in full knowledge of the risks involved, it worries me to read of the benzo-naive taking 3,4, or even 10 mgs of the stuff: if the stated equivalency is genuine, then 1mg Etizolam = 20mgs Diazepam: 10 = 200mgs, or twenty of the highest strength valium tabs generally available. Less is more with downers, and they're tricky: not all that recreational, but deceptively powerful. Start small, find a clean source, and don't use on consecutive days or mix the stuff with anything till you've tried it, low dose (like .5mgs) on its own. All it takes is one blackout and a set of car keys for downs to fast-forward you to the worst effects of long-term, chronic alcoholism. Or, for that matter, one binge followed by abrupt withdrawal.