Well, requiring a Ubuntu One account (which asks for your Full Name and e-mail) in order to install software was a terrible choice. Last time I checked, they still thought it was a good idea.
You don't need an account to use the phone though, nor a SIM card. Also if you enable write access, you can use the repositories just like you would in any Debian distro, but lose the ability to install OS updates. You also can't get updates without a Ubuntu One account (at least by default).
Bluetooth is almost completely missing, there is no encryption, and the default terminal software (you need a Ubuntu One account in order to install), lacks some key combinations. Translations are quite good.
My overall feeling is, it will continue to lack the features that motivates me to look for an alternative OS, so I did not want to spend more time on figuring things out.