Scot,
There's a whole forum dedicated to the CVT, I recommend you check it out at
http://www.mini2.com/forum/forumdisplay.php?f=624 (don't know if I did the link right, but you can find it off the main forums page)
The CVT doesn't shift per se, it just steadily increases speed. It really has a lot of personalities, a simple one in D mode, a sportier one in SD, and then the variety of the Steptronic mode. They're all fun, and you can read all about them in the CVT forum, where a lot of owners have done a lot of terrific research.
Good luck!
Jim

- QUICKER - 2003 MC, CVT, CR/W, white bonnet stripes w/ black pinstripes and John Cooper sig, premium/cold weather package, sport seats, gauges, aux audio input