I just wanted to report an issue I have been having since upgrading WordPress to 2.8.
When the plugin is activated and I try to go to the Edit Pages link, I get this error:
Fatal error: Maximum execution time of 30 seconds exceeded in /home/personalreference/personal-reference.net/wp-includes/plugin.php on line 385.
When I deactivate the plugin, everything works fine again. When I first discovered the issue, I deactivated all plugins and activated them alone to see which one killed the page. Sure enough, it is the Post Templates script.
Additionally, I am having the same issue that others have supported that I cannot save or edit already existing templates, or create new ones because there is no save button or area to add the template name.