The key is that, unless the project reaches its stated goal, the money you pledge is safe. So if it’s looking for $10,000 and only raises $1,500, you get your money back. Pretty spiffy.
Purple Pawn has taken it upon themselves to do an interview with a bunch of different game designers who used Kickstarter to fund their games. They asked questions of both people who were successful in making their goal, and those who were not:
For those of us in the RPG hobby who might be looking for funding for a gaming project (and remember it doesn’t have to be the whole project; you could easily do a Kickstarter campaign to raise money for, say, artwork or the cost of printing) this is an invaluable insight into the way Kickstarter does, and doesn’t work.