California Ale Yeast (WLP001) is my go-to yeast, so it's awesome to to see people discuss what they think of it. I just brewed an amber with this strain and it tastes great!
These are some of it's characteristics from my observations:
-Rate: If pitched directly from the vial, California Ale yeast can take up to 72 hours to see airlock activity. However, if pitched from a starter, there may be immediate airlock activity.
-Flavor: California Ale Yeast seems passive in it's flavor profile, so it will accentuate the flavor of the malt and hops. So unlike Belgian Ale yeast, for example, California Ale Yeast is subtle and not necessarily a specific element to the recipe. That said, I do believe it may produce some flavors. Yet I haven't used enough variety of yeast to pinpoint the flavor for which WLP001 is directly responsible. For a wild stab in the dark, there's a lurking suspicion it may help produce a "butterscotch" flavor. Yet that probably is from the malt.