I'd like to add my own sad experience with the Cloth Room. I opened in P7 a mildly complex scene (Miki, hair, 2 dynamic clothes, one land prop, a particle system) I had built with P6 and used without a glitch. I used draping only for dynamic clothes - no animation at all.
As soon as I clicked on the draping button, I noticed Miki's hair stretching and moving away, leaving her completely bald. (The cloth draped, but differently than in P6 - it almost seemed like it was made of a completely different fabric. Maybe different internal units, like what happened in P6 with material room.)
I tried again and again, and this time it was Miki's head which got horribly warped. I saved the scene with another name and reloaded, and everything was OK. But, obviously, I still had to drape, as drape data can't be saved... 
At the end I gave up and tried to reopen my scene in P6, which locked up. I had to recreate it from a past save. 
So:

23. Change of dynamic clothing behaviour (ok, it's not quite a bug, but couldn't they reference it in the manual??);
24. Random distortion of figures while draping dynamic models.