The Register's Andrew Orlowski has taken a close look at the Windows Phone 8 operating system. Microsoft do need to keep pace with relevant updates, but Orlowski is statisfied that the current release of WP8 "...works and works well."

From his short overview...

Given the choice between platform stability and upgrading the bundled apps, it's undoubtedly the right choice. Both Microsoft and its partners will feel some relief. Nokia in particular has so much riding on Windows, a misfiring release would have dealt it a terrible blow... All in all, Windows Phone OS is now a strong contender, but there's no room to rest on any laurels. The out-of-the-box apps on rival phones are simply much more fully featured, and Microsoft needs to bring out an upgrade sooner rather than later - say early Q2 - to keep up the pace.

You can read all of Orlowski's thoughts on his post at El Reg.