Works very well and allows for a lot of customization through the settings. Has no problems with a child theme either.
EDIT: Recently I have started to encounter more bugs with BuddyPress features in the theme and the most recent update seems to be full of bugs with a few security issues. Updates also tend to be slightly disappointing infrequent. I would still say that it is a very good theme, but I think my site is starting to outgrow it as more customisations are needed than the settings allow and my child theme is getting messy with fixes and modifications. I am thinking of moving to perhaps BP-Default and a child theme instead.