I believe one thing you should keep in mind is that these numbers are not absolutes. Best case scenario you will be able to use the numbers as an indication of project health, but you need to apply a fair amount of common sense here.
When the feature was released with VS2008 I used it to analyze entries for a obfuscated C# challenge I ran at the time. The results were a bit surprising. All the entries were rated as good, maintainable code. Obviously the code was obfuscated and thus hard to read, understand and maintain.
To use the analysis, I would do the following. Notice the numbers and then go through the code (or samples of the code) to get an idea of the quality/maintainability. Following that you can run the analysis on a regular basis and use the deltas to indicate where problems may be starting to root.