The 1.01 patch still has lockups, but I think the game is playable. I have not come across any gamebreaking bugs yet, and I am about 25+ hours in the game.
But did you have more problems before the patch? If you're one of those (lucky) who didn't have much problem to begin with your report on the patch obviously doesn't mean much.
Anyone who comments in this thread: please don't just say how well (or not well) the game works after the patch, but also how it differs from before the patch.