Hello. I installed the alpha 5 on my Blade today. And... I'm really impressed with it. I thought it would work similar to AOSP's current update, and it turns out it works much better then AOSP alpha 17.
What I've noticed:
1. Sound works perfectly. In call, speaker, headphones - there's nothing I could complain about.
2. As for this project stadium performance is nice. It's not ideal yet, but there's no need to turn off animations. What impressed me most are lockscreen animations - they are perfectly smooth and the unlock process is instant - even way faster then in CM7. That's cool!
3. Gallery works for me, but I had some issues at the beginning.
4. As other users report, default browser, multitouch, youtube and camera do not work. Opera mobile does.
5. I had an issue with a voice recording. I tried to install two chromatic guitar tuners. Both of them reported audio device related errors.
6. Wifi works fine, but when turned on the phone first, it did not work properly - network informations were messed up. Worked after a reboot.
7. Boot animation works fine.
8. Autorotation works... but a bit strange. Before it rotates, it turns upside down and then animates. Ends always in the correct position.
9. Angry Birds (Seasons too) works O.o I wouldn't expect it at all, but it does indeed. Performance seems to be a bit worse then on CM7, but still it's a lot.
10. T9 dialer when set to search contacts by name first lags while entering the digits.
11. When I enter the GMail inbox, I cannot read the messages - they won't load.
So... there's a lot work ahead, but it seems to be definitely usable. I'll stay with CM9 at least for Christmas, maybe longer