Conner94,
You are correct to some extent in your findings.
EA had many of the problems that V1 has and some including some important show stoppers such as the world object limit fixed.
V1 has the obvious additional major features of Physics and MP both of which could have in theory added a degree of professionalism to any game made with the product - both have been poorly implimented in as much as they are either bug ridden or cause more problems than the worth of it. MP for instance is basically unusable and the physics system causes major problems in many areas. Not to mention things like ladders were removed because of it. These I have had to reimpliment myself as I cant wait for TGC to do anything about it. I also have to overcome all the other difficulties Physics throw up which did not exist in EA.
Many of the issues and problems which users of the EA software then and now encounter in V1 on a daily basis - library probs, fps, Poly clipping, lag, AI think time and AI movement and response itself, compile and so on never had TGC priority during the time I Beta tested V1 and so were never addressed in priority to other things and additionally from the point of the final Beta testers involvement to final release of FPSC the product deteriorated to a point that I can say the final release was not how it was at final Beta test version. Why I know not I can just say how I have found it.
Overall theres little important difference except Physics and MP if you find the inclusion of those helpful and not hindrance and its hard to say if V1 has more issues and bugs - I would say yes personally, though in truth - its as much a question of some being fixed and others having crept in perhaps as a result without the time for to secure a fix.
Really its out of the frying pan into the fire.
As to the WIP thing - I guess now that V1 exists some users at least are really now trying to get on and produce a real game with the product when they were not so determined to produce that kind of end result with the EA version. Of course this is a long term undertaking. Add to this the fact that making a real game with original content at least and to some extent even with the default media in V1 is much harder than most could ever imagine by simply looking at the product from the potential gamemaker viewpoint when looking to possibly use the product in doing so before purchasing it and actually attempting to do so.
The difficulties in achieving a finished professional type game are enourmous and few will ever succeed. From that point of view most will give up while their game is WIP for numerous reasons not least of all the fact that FPSC is just not a productive tool in those circumstances and lacks the finished polish to do so.
Many will disagree of course and so I at least wait to see some completed games in the showcase forum that I can change my opinion of the product.
All of that does not stop us users trying of course cos we love what we do - we must do I guess and when someone suceeds in showing us all what can be done with FPSC in making a full game then we can all be inspired to further enhance our efforts.
EDIT : And yes I would agree with MaddA ChieF that overall V1 runs a little faster than EA - perhaps a couple of fps - though much of that in my case is down to my working very hard to eliminate leaks, redesigning levels unecessarily as I see it when serious lag occurs and so on. So most speed improvements are down to nothing more than sheer hard work on my part and not engine improvements.