Terry,
As you know, we are looking for feedback that will help us decide when it's appropriate to move forward with SW2011SP4. We are anxious to make the move since discovering the impact of the lag associated with inserting components in large assemblies. The lag appears to have been eliminated with SP4, but I do not want to jump until I can be somewhat sure we won't be trading one significant bug for another. I did find a related forum post and SPR. The odd thing is that the SPR is still open even though the bug appears to have been fixed. I guess it's possible the SPR isn't the exact same issue therefore it remains open. In any event, the number is 590652.
Here's a snipit from the related post:
https://forum.solidworks.com/message/218351#218351