The 7.x-1.0-beta1 release has been tested on several websites and has been used successfully to add WYSIWYG functionality to a clone of the Pushtape distro. See the pairhosting branch of https://github.com/sheldonrampton/pushtape-drops/tree/pairhosting
All of the options in the project's Full HTML and Filtered HTML Wysiwyg profiles are working as expected.
Development branch for project.