I’ve done three or four installations now, and from my perpsective, Gutsy seems to be holding up very well.
Of course, that endorsement comes with a small disclaimer: I will admit that I don’t bother installing the entire 7.10 Gnome environment. So if there are malfunctions in the upper echelons of the Gnome superstructure, I don’t see them.
My interest in each edition of Ubuntu is more for the core-level structure, and not the entire Ubuntu desktop. I leave that to the plus-1Ghz machines, and usually strip out anything vaguely related to Gnome.
But the remainder is working well for me — very well. No kernel issues, no hardware incompatibilities, no network obstacles and no “unexplainable” behavior. 
I still get a strange framebuffer timeout thing that I’ve noticed before. It’s not critical, but at the same time, it’s a serious flaw. Switching to tty screens or even the X timeout leaves me with no video output at all. Reboot is the only option.
On the other hand, I don’t know how many people are using ancient K6-2s with Silicon Motion video cards in them. So in the grand scheme of things, it’s probably very minor.
Still worth a bug report, though. …
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