I agree with these observations. I will add that I think it's unreasonable to expect this type of jacket to perform very well above 85-90 degrees (not saying fddriver2 was implying that, just wanted to add). I usually switch to mesh around 80-85, because I usually have it with me. I've worn the Kilamanjaro at 90F+ and as long as I was moving, it wasnt horrible, but it doesn't compare to mesh.
Another pro is the wrist vent. I love having that. It makes a surprising difference for me on hotter days.
Unfortunately, I don't think that perfect 4 season jacket exists yet... vents like mesh in the summer, is waterproof, and allows me to wear my warmer layers and heated winter layers too.
This jacket, however, is a great 3 season jacket and could be pushed to 4 seasons in certain areas of the country.