I did the RISE program this past summer. Friday is the last day of my internship. It's a really cool way to get to experience Germany while at the same time working on a project that is extremely interesting to you (you will definitely find something--they have over 500 projects to choose from!). I will be getting published for my work this summer, but I've been told it's not the norm; however, it's still a distinct possibility. The RISE program itself is new (this year was its 5th year) but definitely getting up there in prestige--a lot of professors and students alike know about it and are definitely all for it, as international exchange programs are a hot thing nowadays.
The program itself is run by 5 people out of a small office in Bonn, Germany, so it can be quite disorganized at times, but this it understandable--after all, it's 5 people in charge of 350+ scholars! Keep in mind that the intent of the program is to get as many Americans, Canadians, and Britons to Germany as possible, in order to advertise Germany's scientific and cultural aspects to the English-speaking community worldwide. The intent of the program by the DAAD is to give a bunch of Americans a 2-3 month internship in Germany with hopes that you will want to return and do a PhD or a postdoc there after you graduate.
Assuming you are eligible, the American Chemical Society co-sponsors an NSF REU offered through the RISE program. I would definitely look into that (google: ACS NSF-IREU). You apply through RISE, and if you're good enough the ACS sends you an e-mail asking you to apply for their program. I was accepted to that this year, so in addition to the RISE experience, I've also gotten a few added benefits, the greatest being a free round-trip overseas flight (the one thing that DAAD RISE does not pay for with the scholarship, but ACS does) and the chance to present at the ACS national conference in DC two weeks from now. If you're thinking about doing RISE, this is a great opportunity to add on top of that.
Above all, it is a great way to network with other chemists, both American and German. I have met some other chemistry students who I hope that I will stay in close contact with upon returning to America, as I've developed some pretty lasting friendships with them this summer. And hey, who can say no to networking? Overall, if you're looking for an international chemistry experience, DAAD RISE is one of the best ways to do it--they select so many students that if you apply with decent credentials you will most likely get a grant, and despite their disorganization they are very welcoming, as they really do want to show of the best of Germany to you. They even give you a 5-day German rail pass with hopes that you'll use it on a free weekend to explore Germany and take back some of its rich culture with you.