I apologise for doubting you. Whilst you are correct in stating that Picasso96 bugs did crop up in v1.0 these are - I believe - isolated to certain chipsets; certainly, I have yet to witness the screen corruption that you describe. Rest assured that this was one of the fixes listed in the WinUAE v1.1b1 changelog.
As for broken 040 functionality, I do not see any fixes related to this in the past four v1.1 betas, which suggests Toni is unaware of such problems - again, I encourage you to provide some detailed information.
Finally, the ALT+Tab screen switching problem is something I have yet to experience; either with the current release or any previous versions. However, in my opinion NT-based Windows memory protection is bloody good; especially in the latest incarnations, so to suggest it is non-existant is highly questionable...as is the notion that WinUAE v1.0 has not improved steadily since v0.9x
Anyway, it is not my intention to enter into a war of words with you, I just feel one must pay credit where credit is due. WinUAE is arguably one of the finest examples of free, GPLd software, and simply cannot be taken foregranted.
Take it easy,
James