I haven’t finished but I’ve hung around here long enough to know that it will qualify you to call yourself a beginner. Unless you get a lot of speaking practice outside of TF you won’t be conversational. Unless your conversations are incredibly basic and short, I guess.
Basically you’ll get a foundation in Japanese which will make learning from elsewhere easier. You’ll learn very basic grammar, kana, and you’ll get started on learning kanji. Oh and vocab, there’s that.
After TF most people seem to go for Genki, from what I can see.
Personally, I like the way it’s presented. It’s written kind of comedically, and that appeals to me. And there’s the super sassy community!!
I haz a blog http://maninjapanchannel.wordpress.com/
https://www.youtube.com/watch?v=qLQzB-1u-dg