http://www.youtube.com/watch?v=-BNAoOaYyEg&feature=fvw
Well, here's a video to give you an idea.
Also, note how the soldier runs away before he fires it. It is NOT pleasant to be near one of those things when it goes off.
I'm qualified on the Carl Gustav M2 / M3 MRAAW, which is our nearest equivlent (well, aside from the M72, which we don't use much - very inaccurate). When you're the loader, you literally have to hug the gunner when we shoots, or you will actually get knocked around by the backblast - the air rushing in to fill the space it just got forces out of is enough to suck the snot out of your nose.
According to the pam you need about 50 meters clear behind you for safety when you fire, realistically it's more like 20. I once took a piss behind the rocket range, and 100 meters away, downhill and into bush I still felt the heat when it went off. When I shoot it, I wear earplugs AND muffs.