My favorite quote from an experience DBA is "MySQL's biggest feature is that it's retarded." Sadly, as someone who actually likes technology and working with it, I can't possibly see that as a feature.
DDL Doesn’t Respect Transactions
My Oracle DBA friend tells me Oracle doesn't, either, not that this is any kind of excuse.
Maybe with the first-class replication in the 9.0 release, it will happen sooner rather than later.
I thought RDS wasn't so great on MySQL replication, either, or is that only if one wishes to do it off-AWS?