I just did two upgrades from 7.1.1 to 7.2.0 everything went smooth. As a note these environments were running for only two weeks before they were upgraded.
Both setups were as follows:
Appserver - RHEL 4ES
Database - Solaris/Oracle 10g
Remember to backup your file server, nsh directory, and schema before every upgrade.
The new GUI migration tool is nice. I've done a couple 7.1.1 -> 7.2 upgrades on SQL that went smoothly. Since I haven't run into any issues I haven't really found any gotchas :)