In both opposition and agreement, I think it could use more stability and/or compatibility there are some games errors, but I also don't play such a wide variety of 64 games as to crash often (in fact I almost never crash w/1.6), but even with with a good computer i've still seen a game like perfect dark or goldeneye lag in open areas where it attempts to render a large amount of geometry. Even at lower resolutions the results are the same, it just can't render some large areas at the full 50FPS, whats strange, is I do remember very early releases that happened to run on 450-500mhz machines with VOODOO VIDEO CARDS NO LESS, and now I pop smash brothers into a 733mhz with a geforce4, and upon loading major models the game just jams up to say 10-15 FPS for a few seconds killing gameplay. Very strange because way back in the day I ran the early versions of PJ64 on old computers back then, it does seem as though PJ64 has gotten slower as more has been added to it, the old versions ran on older computers, but newer versions don't seem to run quite as well even on slightly faster computers that are still outdated.
This may be a fluke observation however, theres no way to tell how a hardware combination will react to a HLE like this.
Someone else mentioned menu hangs in perfect dark, I've had the problem, but I've avoided the problem by not making savestates at the menus, instead browsing the menus fresh from the beginning of the game on each startup.