I signed up with Principal Bank for the $50 bonus and it showed up immediately. When you sign up, you'll need to print out a signature card to mail to them.
Anyway, so far, it's okay... They include a free box of preprinted checks and pre-paid envelopes to mail in your deposits.
My only possible gripe is that they take a really long time in processing stuff...even for incoming ACH transfers. I had a paypal transfer into the account and while it showed "completed" on the paypal side, it didn't show up until 3 days later. It wasn't paypal's fault since I tried it with my own bank that also had free ACH transfers. I asked my bank and they explained to me that some banks are really slow...It seems that Principal might be one of them. Personal opinion, use this bank as a spare bank or alternate if you like your money at hand....
Otherwise, I'm happy.