While doing some research, I came across the following review.
It mentioned that Better Wp Security had certain bugs but it unfortunately doesn't mention which version was used during the trials. I asked the author to update the review with the version number for reference.
I was wondering if bit51 had any response to the review and bugs?
The bugs he mentioned were under the Comments and Cons sections. I've typed them up below as well.
1. Renaming 'wp-content' can result in broken image links, log of the currently logged in user(s) and in some cases, WordPress may attempt to recreate the 'wp-content' directory.
2. It sometimes does not read the "admin" user account from the database correctly and therefore, might inform the user that the account does not exist.
3. Successful and Failed login attempts are counted against the lockout policy. Therefore, an admin can unintentionally be locked out.
4. Something about Away Mode having a negative affect with login scripts or plugins such as simple ModalLogin.