I've definitely heard the horror stories of the early days of iPhone development. I don't think I exaggerated though. I pretty much stuck to the facts of what happened, with some sarcasm sprinkled on of course :)
It's important to remember though that RIM isn't competing for developers with the Apple of 3 years ago. They're competing with the Apple (and Google) of today. As a developer who's time and sanity is valuable, I'm going to have a hard time justifying the added frustration, when there are other options that are much simpler, and have much more profitable markets to sell apps to.