timeline in 2007.1, is it a preview or production ready?

It's hard to tell where it's at in term of dev. The guts of it seem final because it's stable, fast enough that I don't see it in the profiler but the gui seems to be at a prototype stage.
For example you have mutiple tracks animated with that blinky red thing, then for no reason the curve editor in them opens up when you click on the track header and there is no clear way to close it. Also the lack of snapping or dopesheet mode or ways to move groups of keys etc...