Quoting synnerman:

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Two quick questions:

1.) How does it handle box sets and child profiles?

2.) Will there be a problem for those of us with giant collections (can it handle the thousands of titles)?

1: See fantasia in the screenshots above.  Tap the blue circle w/arrow to slide in a list of the box set contents in its own list.

2: We've tested collections in the thousands and performance is decent.  We'll continue to optimize in subsequent releases to make things snappy for those of you with truly obscene numbers of DVDs.

Child handling is identical between iPad and iPhone versions.  Any collection list can be displayed as the details view, thumbnails view (with 1 of 4 looks), or list view (with selectable secondary data).

Tags will be coming in an update, along with banner support and some other items that didn't make the cut this time.

The sync uses database sharing and works over wi-fi.  If you don't have wi-fi, you can sync over the Internet using 3G if you open the port in your router.  Wi-fi is highly recommended though.  Over wi-fi, the initial sync of a 2000 entry database takes roughly 20 minutes.  Subsequent syncs with a few updates take just seconds.

Quoting 8ballMax:

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Wow Ken...looks awesome . Any idea how much physical memory the App and a database with approx. 3,000 titles will use?

The app itself is 7.5 MB.

Depending on the image quality you select for sync, the database storage could vary greatly.  Also, selecting the option for high res (retina) thumbnails takes some extra storage.

As an example, my collection of 2200 entries, with retina thumbs and default image resolution (capped at 500x700) takes about 900 MB, which is just about the same space it takes on my desktop.

Quoting muskyinoz:

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Is the desktop version still needed or can you use the iOS version without it?

(I got rid of my PC recently and only have a MAC so I'll be creating my library from scratch anyway)

Desktop is not required.  However, it does grant some additional abilities, like printing charts and reports (any report installed on the desktop can be selected and printed with the displayed list from the iOS version).  You can also use the iOS app to remotely trigger trailers or display profiles.