No, it feels quite unpolished, and the GM is right around the corner. It was obvious that this will happen - there was no way that Apple could go from Beta 1/2 (whatever version was the most recent at WWDC) to a finished, coherent project in just a few months. Development takes way longer than that.
Are you a developer? Just curious. I am. And like Apple, we've been working on a major upgrade of our system this year. Going live this weekend in fact.
My point is, for months now we've been working on bugs. But until just 2 days ago, the system felt very unpolished and ready to go. Why? Well, because we've spent the past few months working on the big things and important bugs. Those that would prevent us from going live with the new system. It wasn't until the majority of the bigger bugs were out of the way that we started looking into the little things. Primarily cosmetic issues, although there are still a few genuine bugs that may not be fixed until after the go-live. But they tend to be more uncommon things that people are more unlikely to run into (for example, enrolling a dependent on your health insurance, and then declining medical coverage; it's a silly thing, but we need to account for people doing silly things).
I don't work at Apple, so I don't know how they do their betas. But I've never seen a situation where people worried about the little cosmetic things before the bigger issues are handled.
So just because it may not feel polished at this point doesn't mean that it won't be when they release it. Like most developers, they're more likely to save silly little cosmetic issues (and perhaps some of the more uncommon bugs) until the very end once all the major issues are handled. And most bugs in this category tend to be fixable very quickly. Like us, I'm sure they meet regularly (I'd guess at least daily at this point) and go over their bugs and prioritize them. I'm sure they've already identified those cosmetic type issues that actually WILL take a long time to fix and jumped on them sooner. That's just the way software development works.
So to me, us being this close to iOS being released doesn't really bug me. I have no doubt that a lot of the polish will come at the end. And I'm not really worried at this point.