I have a few minor issues with the app on my iPad1:
1) It often crashes while browsing my collection. This is the least of my worries, because after opening it again it works OK.
2) Often, while switching between browse and the screen with the album details, the browse screen skips back to the beginning of my browse list. For example: it shows the A's again while I was looking at my albums under S. This is very annoying, but not a deal breaker.
3) While tagging items, after a few additions to albums, the tagging menu is suddenly inactive. The only way to reactivate this menu, is by rebooting the iPad or wait a long time.
4) The same issue appears while focussing. It sometimes becomes impossible to clear a focus, which leaves me looking at just a small section of my collection. Again, rebooting the iPad or waiting for a while will bring back the clear button.
But apart from that, everything is perfectly alright.