I keep loading new betas hoping for some movement on these issues but as time moves on it looks like Photo isn't going to replace PS for me anytime soon. I have mentioned them early on in feature requests and bugs as appropriate. I admit I haven't had time to follow all the progress and I may well have missed something. If so great, please let me know how to do it and I'll be happy.
I know Dan Margulis evokes polarized opinions but usually in some fairly restricted domains. There are a ton of useful workflows in Professional Photoshop and Photoshop LAB Color that depend on the channel-specific blend-if sliders in the PS layer options dialog. If you do colour correction using those workflows blend-if can be the difference between spending minutes or hours on a correction. Correct me if I'm wrong but I don't see these in Photo. The layer blending dialog in Photo is as far as I can tell completely ignorant of colour channels and therefore virtually useless for me.
The other thing that prevents me from doing a full correction, not a blocker but such an impediment that it's not worth the effort, is that I can't see how to apply e.g. a curves modification to a mask channel. Again if I just haven't found it, please let me know. I can use adjustments to prepare a mask based on e.g. the CMYK yellow or black. But it's hard to tweak in place.
In PS I can apply curves to anything I can see - maybe not as an adjustment layer but I can still do that. I like everything as an adjustment layer but if there's no immediate application of adjustments I need to be able to apply them to any pixel layer - including masks.
Photo seems like a great bitmap editor, great for collage work - splicing existing photos etc. But PS is still the only game in town for serious colour correction and unfortunately that's what I need to do. Most of the rest I can already do in Designer.
Also I still can't believe that we have a Master curve in Lab mode - and it's the default. That just doesn't make any sense. Doesn't make much sense in CMYK either (because neutrals don't have the same value across all channels) and should be avoided in RGB (because master adjustments can shift colours) but that's another battle.
So best wishes for Photo but it's not much use for me right now.
Also congrats on the Apple Design Award for Designer! You guys really do deserve it!