The first release has been tested in a production environment for about 2 months now and suffers no real bugs anymore except some browser caching problems now and then on IE, so this is also a call for reviewers and other smart people to test and (hopefully) submit patches!
I've prepared another screencast to see it in action on the image and node images module.
Of course, a better way than looking at a screencast is to download it yourself and test it! Patches are even better. Some suggestions: browser caching problems, hook_imagecrop so your own custom module can benefit from it etc..