I've continued to use iPhoto 1.1.1 daily and have had a chance to test a few more things since the article was first published.
The new search function that allows you to look for pictures based on data you've entered in the Title or Comments fields works well, but you have to choose between that method or the original Keywords style of search. I'd like to see both search options available at the same time. Nonetheless, I really appreciate being able to look for images by data I've entered.
Second, iPhoto 1.1.1 doesn't change your original file names anymore when you import images. I had realized this up front for pictures imported from my hard drive, but it's also true for images from your digital camera.
This is a much-needed fix. Since I "double backup" everything (import to iPhoto and then dump original images from camera to separate hard drive too), it really helps that everything now has the same file name. By using the AppleScriptlet, "Show ImageFile," I can find the original file number for any iPhoto library picture, then go grab the untouched raw version off another drive.
The only catch is, if you've updated older iPhoto Libraries from version 1.0, they still have the screwy file names that make no sense.
Finally, this version of iPhoto has become a more complete working environment for me. I only have to use Photoshop on occasion to correct images -- most of the time I just adjust brightness a tad, crop if necessary, and send the picture on its way.