For what it's worth, I've been running F16 since before it went gold, and aside from a couple of kernels that had issues (and the fact that you have to be mindful that Linode uses pvgrub, which behaves like grub1; grub2, the default in F16, is a significantly different beast), overall I've been pretty happy with it.
(The only ongoing problem I've had is in-guest rebooting; it looks like something is hanging up with plymouth. Reboot via lish works fine. Haven't cared enough about it to really dig into it, since I have a workaround.

)