I was pretty horrified when I first tried to swatch Chanel Rose Initiale Powder Blush (72) for Fall 2012. I made the mistake (I really should have known better) to test it with the little brush Chanel put in the blush's packaging. The result was a powdery mess all over the compact, my hand and everything around, but little to no actual pigmentation where I needed it. Once I got everything cleaned up I grabbed a bunch of real brushes and set to work. The result was another big Chanel love.
Rose Initiale is Chanel's Fall 2012 addition to their blush collection (it's a permanent shade, not a limited edition). The color is a healthy pink that leans a little warm mostly thanks to the finest gold micro-shimmer. The shimmer is subtle and elusive; I really had to play with light and angle to show it, and as you can see in the swatch, it melds with the skin and doesn't show up as particles, only as a glow. The color intensity can be built up as needed. My swatch above was done with very light application to show how delicate this can be. I normally apply Rose Initiale just a little more heavily with a denser rounder brush: Hakuhodo 210 is my first choice at the moment, but if you're very pale a fluffy brush will serve you better.
Sabrina has some great comparison on to other Chanel blushes on The Beauty Look Book.
Bottom Line: as pretty as it gets.
Chanel Rose Initiale Powder Blush #72 ($43) is available at all Chanel counters as well as from chanel.com.