Let me start off by saying that E. L. F indeed used to have outrageously long shippings times and seemingly non-existent customer service. I've also heard of people not getting everything they ordered, but it hasn't personally happened to me. In 2009, a group of friends and I decided to order together from them online. Needless to say, we waited forever for our items to come. After reading quite a number of negative reviews from others online with similar issues, I vowed never to return to their website. I thought to myself then: Drats, I should have been smart and looked up reviews -before- making the purchase. If only I had Site Jabber to guide me back then. Haha.
Now, lets fast forward to 2011. They have gone a long way since 2009! I've made two purchases from them this year (with a little convincing from my friend the first time, who wanted to split shipping costs with me), and each shipment arrived in about a week. I ordered at least 10+ items each time, and nothing was ever missing nor did I ever get the wrong product.
I think it's safe to say that E. L. F. Is now okay to purchase from. I haven't had to do any returns, so I can't vouch for how good their customer service is, but I'd love to hear from someone who's had a recent experience with returns/customer service!
Overall? E. L. F. gets two thumbs up from me. If you're like me and you've had unsatisfactory experiences with E. L. F. In the past and are thinking of buying their products again, I definitely encourage you to give them another try. If you've never purchased from E. L. F, I highly recommend their products. Their studio brushes and eyebrow kit are particularly good for the price you pay :)!
P.S. Some of their products are also available at Target!

Update: Kay, I just made another purchased order recently and got the specifics on how long it took for me to finally get the product:
I ordered it on the 21st, a confirmation was immediately sent to me. Another e-mail saying my order was shipped came on the 22nd, with a FedEx tracker. No activity on the tracker until a couple days later (can't remember when), but it said my package wasn't shipped until the 24th (um, why 2 day delay in shipping?). It will arrive tomorrow on the 30th. Almost a week to ship for a whopping $6.95 paid in shipping... Granted 2 were not business days, still... That took awhile :(