Don't have the 'update problem' so I use version 1.1 and it works great and incredibly fast.
I only use it for the albumartwork and I like the total control of what to import to iTunes compared to some other things I tried.

Noticed that you have to spell the artist / album name exactly right otherwise it's much harder/impossible to find anything. There can be more info on the internet with that wrong spelling and you'll find this info, but the exact spelling gives the most hits (sometimes you don't notice there's a mistake in writing a name or albumtitle!)
Like the first reviewer, it would be nice if it would be able to search for a selected song too.
Maybe a total utopie and don't take this too seriously, but this works so fast and clean, that you'd wish for a search-field, totally seperate from iTunes (adding artist/albumname manually) to do the same kind of search for albumcovers like a 'fast-little-google-special-search' , I just 'google' to find covers for my cd database (CDpedia -also a great app!-) but I guess this would be faster!

Worth the price!