It's stable, but it's obviously been really rushed to the shelves. There's a number of things that are broken or don't work at all. It's all mostly in the user interface front, though. All the stuff behind the scenes (aka CoreImage) seems to have gotten the most of the dev time and work fine. It also breaks a lot of older apps.
I've had Tiger for about 3 weeks...yes I got it (and a new G5 tower) as soon as it was released. Someone had to be the first to try it. Of course I'm coming from using a 333 iMac with OS 9.0... not "quite" as ... old as your Commodore (LOL!). Seriously I haven't had a lot of time to play with it and learn the new system, but there is already a 37 MB upgrade at Apple for it.(10.4.1) Personally, I think its a great system and worth the upgrade. Every system no matter if its on an Apple or a PC is going to have some issues esp. when a new one comes out. I've been an Apple user since the IIe, but have also used PC's over the years. I highly reccommend an upgrade!
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I have found nothing special about Tiger. They just seem to give you gimmicks and no content. I had to do an erase and install and found out that yes, they gave us toys but took away iPhoto, iMovie and iDVD. These are all programs I use. It is going to cost me 79 more dollars to get them. If I had the choice, I would have stayed with 10.3.9.
I found that it fixed my ical issue, but then Cicso VPN and a few other apps won't work any longer. Its like going from 2000 to XP, software needs to be patched.
Mostly it just sightly slowed down my system.