couple problems Ive noticed:
A few apps dont work or are unuseable: Veggie Samurai has a problem with crashing on startup, a couple others simply dont run (Gun Bros and some others), and some more have problems with the screen resolution.
Mine restarts once every day or so. Never when Im using the phone, and it might just be my pocket doing this but it does happen.
It lags every once in a while but every phone does
All in all its a great phone for a great price. Im not sure if you will really like this phone but you definitely wont regret it for the price. The only real problems with this phone is its ICS (I prefer 2.3 better but thats up to you), it doesnt have the biggest internal storage (5Gbs of storage, which is bad with ICS because ICS doesnt let you transfer apps to the SD card like 2.3 does, but its good enough), and the screen is small (although I prefer smaller phones and smaller screens are a necessity) and has a low resolution. If you can deal with the small screen, and dont have a big problem with ICS, then youll love this phone, especially for the price.