yeah, I agree. Reminders is the number one thing I was looking forward to in iOS 5, and I'm super disappointed. I will stick with Remember The Milk for now. It doesn't even have a badge to show how many tasks are (over)due today? and you can set "due date" in iCal, but on the iPhone you can only set "remind me"? and I don't want to have to set a TIME- some things just need to be done on a certain day, but not at a specific time. And they don't sort by date??! And it's buggy.
But the biggest thing I want, that NO app offers, is for the to-do's to show in iCal ON THE DAY THEY'RE DUE. not just in a stupid sidebar. Like I want to look at today's calendar in the calendar app on my phone, and see that I have a meeting at 730, a soccer game at 4, and that I need to pick up the dry cleaning and buy milk. It seems silly to check one app for your appointments, and a DIFFERENT app for the things you have to do that day.
The list goes on and on. I'm going to send feedback to apple. who knows if they listen, but I figure that's probably more productive than just whining about it to my friends (who couldn't care less), haha.