I have been using this theme for years. On two occasions updates caused so many things to break I had to revert to older versions. I believe both times the changes were due to changes in WordPress Core.
The theme is generally attractive and has proven to be compatible with most of the many different plugins I use on various sites.
The presentation style, particularly on the front page, is professional and informative without looking like it was overproduced the way many other themes are today.
You also get some capabilities other theme designers reserve for their "Pro" versions, and while I am fine with people earning some money for their hard work, in a competitive market the user goes with the best bargain.
Having evaluated many of the magazine-style themes available today I feel that Magazine Basic allows you to get up and running quickly without requiring a full investment in graphics.
I recommend using this theme but wait for other people to test out the new updates, especially when WordPress is updated. Or set up a test installation for yourself and upgrade that first.
The most common problem I have seen on updates is that the sidebars are reset to 50% width and moved to the right. But I have been successful in restoring the settings without losing any widgets.