I have worked with SP1 and found it not to bad,
SP2 was, I heard, 'not to be used'
On SP3:
I found a bug on contouring operations when using HSM and/or slowdown options if the operation has only one guide curve.
Multi axis Sweeping will not 'remember' it's tool axis if you switch to a catpart. You must replay it.
I had some problems with roughing operations that could not recognize the current material condition. I had to create the roughing operation earlier in the machining sequence, lock the operation then move it in it's good position.
The cutter definition of a taper tool is not good. The E value is not taken into consideration.
A cycle statement is transformed into GOTO's in a tracut.
The RAPID button does not generate rapid in some cycle syntaxes
If you NoShow stuff in a catpart while you're in a catprocess, you can't Show them from the catproduct or from another catpart.
Center Graph does not work from a catprocess (it may not be a bug, but it certainly is a pain...)
Even if you have saved your work, you will be prompted to save for ever when you try to close the models.
....
I have'nt tryed SP4.
SP5 is out but I have'nt tryed it yet...
With SP1, I've encountered a bug that I never dare trying to check if it was fixed. Back then, if you CUT and PASTE an AXIAL operation, it was sometimes impossible to save your catprocess.
I took the habit of using COPY and PASTE then DELETE the operation or save the catprocess before and after the CUT and PASTE.
Good luck