A whip deals no damage to any creature with an armor bonus of +1 or higher or a natural armor bonus of +3 or higher. The whip is treated as a melee weapon with 15-foot reach, though you don't threaten the area into which you can make an attack. In addition, unlike most other weapons with reach, you can use it against foes anywhere within your reach (including adjacent foes).
Using a whip provokes an attack of opportunity, just as if you had used a ranged weapon.
You can use the Weapon Finesse feat to apply your Dexterity modifier instead of your Strength modifier to attack rolls with a whip sized for you, even though it isn't a light weapon.
Weapon Feature(s): finesse, reach.
If you were specializing in trip or disarm mechanics, then I could see the usefulness in it. At level 1, it would add to strength and +4 on any CMB you do. Plus, since it's a swift action...yeah, I'd say a one level dip for this would be good. Heck, a one level dip in this would work for any combat maneuver, haha.