CM7 is pretty stable now, they can't easily fix the wifi bug without this new kernel (which they should get next month), battery life is fine if you charge every night, it'll easily get through a day & that will improve too, once they get the new kernel. Apart from wifi, battery life, very rare gps reboots & the occasional nightly build bugs CM7 is more stable than this rom. This rom just has different bugs & most of them are worse. It's not usually the added features that cause any of the bugs in CM7, they might add a little bit to the battery drain but that's all. More often it's to do with CM7 supporting a lot of different devices, sometimes a patch for one will break things on other devices.
The notification led only flashes twice or something, then dies during sleep on this rom, exact same behaviour as CM7 currently has, but the CM7 team are likely to fix it again (so the led stays on during sleep), whereas I can't fix that. The notification led can't flash during sleep on the blade, it's either on or off. If your notification led is flashing, then your phone isn't asleep.
Most of the extra features in CM7 are pretty useful, different people have asked me to include every extra CM7 feature in this rom, several times. I added what I could add easily.
Once the new kernel source is out & used in CM7 it should be pretty rock solid. I'll probably submit a few patches to CM7 too, similar to the tweaks I made to this rom to improve battery life & performance (a little).
This rom is only better than CM7 if you need the wifi to stay connected, or if you need the extra battery life. Soon CM7 will have that too & then this rom will be totally pointless.