Having a repository where many people can come and open issues puts a burden on my shoulders - I'll look at the page and see that I need to fix <some number> of issues, otherwise I'll look bad, or people will stop using my code.
Releasing my code in releases (so that everyone is on one release, or not on any release at all) means that I don't have to deal with people who've cloned the code half-way through the implementation of something large and complained that it won't run, or that it's full of bugs.
Releasing releases has been a solid model for me, especially as I work alone, or with a maximum of two or three other people at once.
If I was going to use a public repository, I think I'd end up using CVS.