Reminders App - Location-based reminders are simply unreliable

Been testing the Reminders app (on a 4S) since Day One and to be honest, theres a lot to like. Integration with Exchange tasks, repeating tasks, Siri integration (nice)...

However, it's been my experience that location-based reminders are unreliable.

I've tried different locations, arriving and leaving, but it only seems to work about 60% of the time. I see the "location arrow" active, but the reminder simply never fires. Seems like other folks are having similar problems.

While I'm here, I'll give a +1 to the #1 feature request: ad hoc location definition. "Work" and "Home" are fine, but I don't want to have to add a contact for my grocery store to remind me to get some milk as I drive by.

Hoping these are relatively simple issues that are on the 5.0.1 roadmap.