@_ThEcRoW
I have tried the CF as boot disk once and it runs very quick and just fine. The only problem I've noticed is when I experienced a hang on the AmigaOS while the disk was working and I had to power off the Amiga, the CF got Disk errors. When I formated the CF I didn't have a problem in the disk. I surely don't recommend of using the CF as your main boot disk. Don't forget about the 1.000.000 read/write cycles!!!
If you use your Amiga too often you'll burn the CF in a few months!
I hope that helps