I find Safari has really greatly improved with version 2. Now I can spell check inside of form boxes. It didn't do that previously. Also, I can drag and drop bookmarks all over the place (ex. Bookmarks bar, iChat, Mail icon). It didn't do that previously either, which I found quite frustrating.
So my experiences are exactly opposite to the rest of you. It now does what you complain that it stopped doing. Of course, I'm in Australia, so that might explain things.
In terms of speed and rendering, it seems much like it has been - fairly zippy.