There are some good perspectives here. I know that no software company will please everyone. It's a bell shaped curve. For most, they are fairly happy users. On the far right you have those that think you walk on water. On the far left, you have those that everything has gone wrong for and they think you are the devil. You can skew the bell to the right (or screw up and skew it to the left), but you still have a bell.
Balancing bug fixes and new feature development while trying to balance customer retention (upgrades) and new customer acquisition is a VERY tricky deal. It's truly part art and science. Unfortunately, that means that some bugs just never get addressed, and for those on the left of the bell curve for that issue, it's a huge show stopping issue and negates EVERYTHING else done by the dev team. Seriously, a customer that doesn't get the one most important thing they want can easily turn that into acting like your company hasn't done a single important thing. It's all about priority, and prioritizing development resources is a very complex animal.
Overall, I'm impressed with the choices Cakewalk has made; I'm on the bell towards the right. :) Would I do some things differently if I were in charge? Sure. However, I'm not walking in the footsteps of their CEO, and won't even pretend to understand the prioritization, staffing, regulation, reporting, support, training, competitive pressures, etc etc etc that he deals with. I can say that I run a software company doing over $5MM a year, and it's a tough job. I am proud to say our bell is skewed to the right, but there is still a tail on the other end. Someone is always unhappy with me. :)
I hope they resolve the issues that are important to you, because I know for you they are critical. Just don't believe that if they don't, they don't care about it or about you as a customer; I'm certain that's not the case.
Also, announcing a new version early is a terrible thing to do. It slows down current sales and creates expectations on the new release. If something happens to delay the release (could even have nothing to do with the software), you have angry customers. Best to wait until you hit beta testing to tell the world. If they are close, they get kudos from me for keeping it so quiet.
I haven't missed an update since the early days, but I have waited a few months to see how a release would shake out. To be very honest, X2 was unusable to me as it was never stable, and I went back to X1. I wrote this off to goodwill with the company earned over many years with me. X3 has been awesome. If X3 had been as unstable as X2, I'm almost certain I would have moved on to another platform.
In the end, we all get to vote with our wallets. :)