Also runs in the latest revision of Dolphin perfectly (r6269, you need this one to control the game as it was just now fixed in the latest version). And i'm actually stunned, it's a pretty darn good game, great even. So far, it's just a bit off with the physics. I am very happy with the homing attack though. They implemented some clever uses for it in the level design. It actually feels pretty natural. They handled it nicely too so when there aren't any enemies around, you don't go shooting off like mad and losing control when you trigger it. I like the graphics too.
So far, it's a solid 8.5/10. It's just a wee bit short due to some imperfect physics. It's not broken, but Sonic doesn't function just like a ball should. Running up walls requires a bit too little effort and very little buildup in momentum. Spindash physics aren't perfect either. Can't say i found any glitches or game breaking issues so far. It's the closest SEGA has gotten since perhaps the classic games. Sonic Advance perhaps was the closest to the classics besides this.
Solid game though, it's a GOOD game. I'd have to say i enjoy it immensely. Only downside is that it seems too short. At least they went back to Sonic 1's three acts per stage though, so you do get some extra levels when you factor that in.