As for how the chili tastes? It reminds me of a chili that you might find in a small diner of the freeway on the East coast some where. It's not very chunky and its almost more of a chili sauce at times. Its probably used by most people as a topping for late night nachos and other horrible ideas. Still, with a little cheese, onions, and sour cream on top it was a quick meal on a cold day that hit the spot for me.
I probably wouldn't seek this chili out for a low carb choice, but it is much cheaper than the Atkins and you get much more for it. You can alway watch your portion size and have leftovers if it seems like to much carbs for one sitting.