"if you're in altitude hold mode, and reduce power so that you'd go below Vy, it automatically reverts to airspeed hold at Vy. Very nice!"
How is it very nice that an AP that was told to maintain a height is now allowing a descent? Just imagine if you were over water and lowered collective to slow down.
One of the biggest challenges, in my opinion, in improvements to APs is in getting them to work well and to communicate clearly when pilots step in and mess things up. It's been working fine to rely on training pilots to understand the systems, and to know what the system can handle or not, but the next advancement should be a system that doesn't restrict what the pilot can do but also won't allow a dangerous situation to develop without clearly alerting the pilot.