Biggest issue I have is with the task list, for any reasonably complicated project we would at least need ability to group tasks into features or milestones. Task lists can get pretty granular, but communication to stakeholders or clients does not usually need to be that detailed, higher level groupings are preferable (and also makes it easier to organize the tasks).
As others mentioned, integration with Jira and such would be nice, but not a deal breaker.
Also I think I broke my demo project, I changed one estimate and the projections just say "New projections are being calculated". There are only 4 tasks :)