It's been great for me. Underwater looks great! New kill cams are interesting. And you can't be mad at all the fixed bugs. The thing that really stands out is that I haven't had one single freeze since 1.5 (knock on wood) the game is very stable and the framerate is as good as always. On Xbox anyway. How is everyone else doing with 1.5?
Personally, it works perfectly for me.
Granted, I didn't have any problems with bugs/glitches before 1.5 (not even with 1.2), but I like the refinements that come with each new patch, and I'm having a blast with the new Kill Cams. So far, based solely upon my personal experiences, every patch that Bethesda has released has been a smashing success that has deepened and improved my gaming experience. Skyrim has been exceptional right out of the box, and every patch/update makes it even better.
Great job, Bethesda!!! I've been playing since Daggerfall, and if you keep going the direction that you are, I'll still be playing when The Elder Scrolls XII releases!
P.S. I'm very, very glad that I play on an Xbox 360 and not a PS3... have you perused
their sub-Forums? Yikes.