Considering it's free - fantastic theme. I've tried MANY themes for clients and MANY promise they can be customised and work with BuddyP etc.
Custom Community is the only one that seems to hit the right balance - it actually IS BuddyP ready, and has enough custom stuff without becoming unmanageable.
It has built in Buddypress support which is very useful (if needed).
Very flexible options, lots of colour choices, layout options etc.
You can have colours or images as background for post/page/widget - even some titles. Custom logo and header.
The options are the best laid out I've seen - very clear and easy to navigate.
My quibbles are...
The 'responsive' layout can get ugly, with search-boxes and menu's overlapping other content when browser window is resized.
The header effects only work within tight restrictions (certain page widths).
I'd like a little more flexibility in changing padding/margins without having to go into CSS.