Not really. I have experienced no bugs at all in 10.7.3, and minor ones at best before that. Many users share my experience.
jW
- Garageband put in fullscreen, switching around suddenly Garageband out of frame.
- Increase size of icons in Finder with the bar in the lower-richt sometimes does not work
- Dragging pictures from websites to the desktop is often laggy and sometimes needs multiple takes
- Opened a big file, no free ram although 4 gig is 'unused'. Let me use it!
- Quicklook does not work most of the time on my old Macbook
- Windows often open wrongly when computer is restarted. Mail always opens even when I stated it not to in system preferences, same for Word
- When a new item in iCal is made and the calendar is changed, the subject disappears -> need to retype it. Annoying. Same when changing 'place'
- Random safari hangs
- Random no-network problems still exist
- Applications show up 3 times in launchpad
- Opening a large text-edit file makes my TextEdit AND Finder fill all my ram and make my computer unusable
- Slow animations (Drag & drop, mission control, scrolling in Safari)
- Dragging file through Finder is painfully slow in opening folders (yes you can change it in preferences, still doesn't work nicely)
- Final Cut Pro X, when using second monitor as the viewer and than going fullscreen leaves the viewer on the second monitor while the rest of the application is in another space
- Gif files wrong speed in quick look
My iMac (with 8 gigs of ram) had a fresh install only 3 months ago. The HDD has plenty of space left. Almost every of the bugs above have I encountered this single day. I don't do anything heavy. On Snow Leopard it performed amazing but I need some of the Lion features. That most people won't notice the bugs does not mean they don't exist.
On topic:
There will be no more new features, I think ML is Lion's polishing. Well at least I hope so. When I look at the list of bugs I wrote down it's actually pretty sad. It won't be like SL as it does not offer under the hood upgrades such as GCD.