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I have it on my iPad 3. Everything works fine for mine. The animations does show a noticeable improvement from the previous iOS Versions. No crashes at all. Battery life seems unchanged.
 
I tested 7.1 myself. All the small stutters are gone on the iPad 3.

Following is observed from comparing 7.0.4 and 7.1 beta 1 side by side (both iPad 3):
- Rotating orientation on home screen is now smooth.
- Launching Messages, Safari and Mail is now smooth.
- Multitasking window launch speed is noticeably faster (and maybe a little smoother, hard to tell).
- Launching apps that are still in the RAM slightly faster. For instance, closing Maps on both iPads and then launching them simultaneously resulted in no noticeable difference. However, when pressing the home button and launching Maps again, 7.1 was again noticeably faster.

Overall I would say 7.1 is a lot smoother, slightly faster and slightly more responsive than iOS 7.0.4. It runs great, very smooth. Consistent high frame rate everywhere, no frame drops anymore.
 
Only really noticed the improvement to pinch to close app gesture which is now smooth.
 
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