It's also not possible to block a contact if you have previously communicated with them without first deleting the contact from your address book. Why FM can't just do that automatically (and indeed, why it is a requirement in the first place) I have no idea - but it is really annoying.
Lastly, as someone else said, calendar colours frequently conflict.
So overall, it works - but lacks polish. It's almost like they don't dog-food their own app.
On the plus side, the data import from google was very fast and worked flawlessly for mail. We ended up in some confusion over calendars which I don't know the finer details of, however.