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It runs fine on my old iPhone 4 but lacks some features due to the age of the device. No airdrop, parallax, etc... Once in a while I have apps crash due to the system lagging. But it is usable and seems to have no major issues that I have identified yet.
 
It runs quite good, and it's surprisingly smooth at beta 4.
There are a few limitations though as previously mentioned - that's probably what helps it run so smoothly.
 
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Yea. Its very good. I put it on my wife iP4 and she loves it. She is using here phone like 10x more now
 
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