Vincent Baker, Paul Czege, Ben Lehman, Danielle (Paul's lady, whose surname I forgot), and Eric (whose last name I've confused with someone else), played in a UtB game at GenCon, and Vincent just posted the Actual Play report over here (http://www.indie-rpgs.com/forum/index.php?topic=16637.0).
Read and enjoy!
... uh, this is the "real world" setting that Seth was talking about. They chose to dismantle the emotional safeguards and made a really intense story. Note that one of the safeguards they eliminated was the existence of the toys, who are, after all, aspects of the child's psychology.
I support this kind of play, but note that it's not the only way to play the game, and that it's hard to play this way. Not hard as in difficult to do. Hard as in it'll rough you up good.
Me, I like flying monkeys, Heffalumps, and cackling, wise witches in my games. But somehow, I always bring up bullies...