We have made many fixes to the behavior of transformed text and they are now available in the latest release, Photoshop 14.1, which you can download RIGHT NOW. I will acknowledge, there are still a few lingering issues to resolve, but for most users, these fixes should handle their problems. We felt it was better to get a partial fix out now than a perfect fix in the future. We are still planning additional improvements for a coming release.
If you are still struggling with problems, by all means let us know so we can make sure we address them.