The first thing that shocked me was that although the huge (and necessary) step has be taken to include the use of compressed audio formats this does not support AAC, which is fast becoming the most commonly used format among mac users for encoding their audio. I hope this is rectified before the final release or else version 5's new feature is at risk of becoming obsolete before its even released.
The second thing is that often with the auto warp feature, although getting the temp pretty much correct the start point (marker 1) begins half way through a drum hit.
My final observation is with the loop utility, whilst allowing looping on the fly which I thing is a brilliant feature, and allowing the looped section to then continue when released, I was very dissapointed to see that the lowest quantise value that this can be set to is 1 bar. I know this makes sense for making the tracks sound natural, it prevents any cool tricks and trills being performed on the fly and you still have to have these regions set up before hand.
On the whole though, I think these faults are small in comparison with how far this new release has come and I am quite pleased with it, and look forward to using it more and more. They can all be worked around, but I have so say I'm not looking forward to converting 5000 songs to MP3.... would be great if that was fixed. Thanks