Brad,
First off, great work so far on all the updates. This is actually a game now whereas the release version was a complete mess. I'll be honest, after about 2-3 play throughs of the initial release version I simply gave up and stopped playing. The added features and stability have actually made this a game worth playing past the first few turns. 1.1 is by far a better game than 1.09 or the release version. Hands down, no question.
However, if your question is whether or not 1.09t is a 'good' game that I would in good conscious recommend to someone then I have to say no. However, this has nothing to do with stability/bugs at this point. This first problem, as many others have already addressed is simply polish. Little annoyances hear and there that add up to a massive annoyance overall: messed up descriptions, updating character cards, outdated and useless manual (manual was useless on release, even more so now). This first problem is what will break the game for someone just getting their hands on it.
The second problem is something far deeper that is not going to get fixed in 1.1. This problem centers on lack of balance in many areas, lack of strategic depth at multiple levels, etc. I've written about it in a number of posts since coming back to the game. This is a critical problem to be addressed in latter patches and expansions, but this IS the critical problem. It the problem that will break the game for someone willing to push past some of the polish issues and dive deeper. It is this problem that really keeps elemental from being a good game, and this is what keeps me from recommending it to anyone as it currently stands.
Thus if the question is do we release 1.1, the answer for me is an obvious yes. As I said before, 1.1 as it currently stands is FAR superior to anything that came out at release date. However, in the pretend world where 1.1 would get re-reviewed it would still be destroyed by the critics. Not for stability issues as it was before but for the two other issues I just mentioned: one superficial, one deep. If waiting to achieve another incremental level of stability in v 1.09x is holding you back from addressing these problems then you can rest assured, 1.01 is stable enough. Focus on the real issues that are holding Elemental back from its potential. Its that potential thing that is keeping me around.