On a quick look, Camino looks better and seems a bit faster. It also fixes a critical problem I had with Firefox 1.5, the time the software was frozen to open new windows. With Camino, pop-ups and download windows open briskly.
All the regular web features I use work with Camino: Bookmarklets, AJAX, Google Maps, HtmlArea etc. However, missing RSS auto-discovery is a bit of an issue.
I noticed the state of Camino via Mezzoblue.