Every time I reopen it, it forgets where the last window was. Also, be default it uses the old-style folder icon from Tiger instead of Leapard. You can change it by selecting a Leopard icon in the finder for the folder background, but it forgets that every time you close and reopen it even if you click that default button afterwards.
Also, the sound it makes when you copy to clipboard is REALLY annoying and there's no option to turn it off. Speaking of options, there are no preferences for these sort of things so you are pretty much stuck with this. There should be more options for these sort of things.
It would be great if it also could create icons from jpeg files and stuff. The interface is lacking somewhat for options, but otherwise I really like how simple it is.
What I do like about it is you can drag icons around, but I don't like that you can only make them smaller, I wish you could enlarge the icons you put on the folders.
The huge problem though is it doesn't remember how you last set up the background folder and stuff. If those glaring problems, plus a way to turn off that awful copy sound, etc. were done I'd rate this much higher.