I've played several hours with the patch and have had no freezes. I only had 1 freeze pre-patch. There does seem to be more audio drop-outs now but isn't too bad. The game does seem to run a little better.
The game is great fun. I love the writing. And I love the fact that they've throw practically ever classic prank in there . . . swirlies, egging cars, skitching, wedgies, a kick-me sign, banana peels, a bag of marbles to trip people, etc. The game is really a crack-up. It even has the ultimate classic . . . the flaming bag of poop! :lol
I've had the chance to play the Wii version for a few hours and both version have their advantages. The Wii version does have nice controls in that you use left and right controllers for left and right punches. And you can use the pointer for aiming (although it is a bit wonky). However, the graphics on the Wii version just can't compare the HD graphics on the 360 version. So I still prefer the 360 version despite the minor drop-out issues.