Lamictal took forever to work and it wasn't until I spent about two months or so on the 200mg that I actually felt something happening. Now that it works, it works wonders! I too have noticed it really does nothing for my manic phases but it has kept me out of a depression (minus a few mild but extremely tolerable ones) as long as I've been on this does.

As for side effects, I really haven't experience the hair loss or the weight gain or any other averse side effects. Once I got to 200mg I lost 30lbs in about 8 wks, so that's a plus. But other then that no bad side effects to mention for me.