Agreed. Complete disaster. And it does not play well with BPS Security. It is a shame too because BPS and Better WP were such a great combo. I tried iThemes Security out on one of my sites and it was such a complete wreck. It is getting uninstalled from all of my sites. It is no good the way this thing messes up .htaccess.
I have to agree with Indy69, I liked when Better WP Security worked with BPS. They were the perfect pair. Stopped working a few days ago, and had to ditch Better WP Security. when the update came out, I was ok, cool, lets see if this works. O-no it locked me out 500 error. Delete plugin folder. Not going back to this, unless the compatibility is fixed.