I can't find where to report bugs, so posting them here:
Installation:
Neither RC1 or RC2 will install on an MySQL database which has strict mode enabled.
Generally the installer will hang, and manual installation fails when trying to write the tinytext entry into config.
Installer does not allow intranet sites.
You are forced to use www.site.com(www.site.com), which is frustrating when trying to install the package on an intranet.
User Admin:
Unable to change profile phone number.
Users are given an invalid phone number errors, need to add more detail on this later.
General:
IE7 incompatibility
Site simply does not work properly in IE7, pages do not display, unable to change settings etc. Too many problems to list.
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That's all for now, but only just got it installed after a few days of attempts (I hope that the issue with MySQL strict mode is fixed soon, as I don't like using MySQL in "sloppy" mode : )