Mining is exactly what I was expecting it to be. That's kind of unfortunate though, as I had kept my expectations low.
Devias's explanation (back a handful of posts) is spot on, so I'm not going to recap it. I'll say that I had equipped (2) mining lasers. I'd get 5 chunks of ore in about 5 sec. of laser burst. I have a 4 hopper refiner, well worth the extra price. The fields I ran into had (4) different ores types each, so it worked out nicely.
The bottleneck is definitely the collection process. The ore tends to string out in a line, so by using thrusters, I was able to quickly maneuver my asp to pick it up. I seem to have to target each piece of ore to scoop it though. I haven't found a way to scroll through ore targets either, so I have to: scoot forward, back up, target, scoot forward, repeat.
Most valuable metal I found was cobalt, but I was definitely looking in the wrong place apparently (out near Perendi). After (2) different ring clusters and an hour and a half of flight time, I walked out with about 15t of various worthless minerals (only 1t of cobalt).
I guess success will come from finding the pockets of rare metals, like the palladium others have found. Which is a shame, I was hoping focusing on large hauls of lower value ore would be profitable if you're consistent at it. I'd love to see those collection drones (DDF) make it in by release.
I do wish the system had more to it though, like being able to break up the asteroids to get to their cores; or having the asteroids throw out some surprises like gas pocket explosions to make you take evasive action.
In the end, it's kind of a shallow experience.