The installation of this plugin is quiet simply a nightmare. And no, I am not paying someone hundreds of dollars to install a gosh darned WP plugin that should meet the most basic of WordPress expectations, 'easy to install and configure'.
Then of course, there are the multitudes of additional plugins for Buddypress. Why aren't these all part of a single install? Assuming for a moment that one had all day long to play with the install of each of these plugins, there remains the very large question of 'do they work well enough to be meet competitive expectations?'.
Who knows? There is no showcase site demoing everything working together. As far as I can tell no sites other than hobbiest's use the plug in.
It's all well and good to come up with a 'science project', but until the thing works up to at least the installation standards of the 'mother ship', its not ready for what ever comes before prime time. Support is totally absent unless you want to consider a forum where people will offer to help you for a 'small fee'. Which is so outside the WP norm, its almost Microsoft.
The very best that can be said about buddypress is that it is a plugin with potential. Right now, its not even beta.