In my opinion they have screwed the photo exposure slider in iPhoto 7. It has a different behaviour compared to iPhoto 6.

iPhoto seems to have colorspace issues on my machine. Everything ends up too warm and oversaturated when viewed in iPhoto (vs Preview on the same machine).
If I try manually adding a color profile to the images with "sips", the image's appearance in changes in Preview, but not in iPhoto.

As a non-professional user I tried Aperture and came back to iPhoto. There is nothing I miss in iPhoto and it has basic support for image enhancing, cropping etc.

What I really HATE on iPhoto is the storage of files. I decided to disallow iPhoto to rearrange my photos and move them around the hard disk. I prefer to create directories on my own, since a filesystem is a good enough database for me, I don't want applications to do it. Good that this optin can be choosen in iPhoto.

It's one of the best photo application I found all around. I use iut together with iView which does the archiving, tagging, seaching for me. iPhoto does the quick presentation etc.:

+ easy to use
+ easy to categorize pictures (KeywordManager and iPhotoLibraryManager and some other apps help a lot)
+ manages all my photos (>50.000)
+ GPS-plugins available for GoogleEarth
+ slide shows easy & quick
+ good&quick tools to correct photos for slide show

- managing of duplicates
- no update feature to add photos in the folders directly and not in iPhoto
- could be mor stable

(list is not complete)

Very nice slideshow feature, the albums and UI are generally very user-friendly. Kind of wish there was a way to avoid the replication though, as iPhoto Diet doesn't quite work for me and it'd be good if the option was simply built-in.

Painful to use for anyone who switched from Windows and knows how much better and faster Picasa is :/

While it is pretty good feature-wise, its terribly slow on my 1.9GHz G5. It takes about 40+ seconds to load my library, 2,000 3000×1900 pictures. I hope Picasa for OS X is out soon.

I can't stand this. I just have to wait for Picasa to get ported to OS X.

Fantastic app.
nice user interface (clean and simple)
great Filing and Search features.
overall, very easy to use

My vote for the worst Apple application. The filing and searching features are a nightmare. I only use it to retrieve photos from my digital camera, and then switch to Photoshop (which fortunately can be used internally for editing) or upload to Flickr (using the Flickr Uploader, not the lousy Flickr plugin).

Can't wait for something better (Flickr style but as a standalone application with digital camera and Photoshop integration, rather than a web-based one) to come along.