Pros Unlike other programs I tried (including Quicken's own Essentials for Mac) Quicken 2012 at least has an annual budget graphic with some flexibility and a budget reporting function.
Cons Awkward budgeting function
Inability to delete categories
Inaccurate Budget Reports
Summary What happened? I used to love the budgeting function in Quicken, where you could move around the annual budget graph, making entries where they belonged and clicking on "fill row right" when appropriate. Now you have to choose "average" or "specify" for each category; this means a separately entering a lot more items. Booooring..... Also, Quicken 2012 hides each month in the budget graphic as the month ends, so there's no way to make a correction once you're in a new month.
As far as I can tell, you can't delete categories from the master list. While you can select the ones you want to appear on your own budget and reports, you have to scroll through ALL the categories to find the one you want to assign to a transaction. This means you have to be VERY careful not to assign a category you're not even using, as it just won't show up on your own reporting. Why? How hard would it have been to have kept the "delete" function.
And the budget report has a major glitch. Any item that's been entered as a "specify" in the budget appears as a negative budget item. So when you spend against it, it includes both the expenditure and the budget figure as a total negative figure in the "differences" column. I've been told that engineers are working to correct this glitch, but I can only ask myself why they screwed up a previously perfectly working function in the first place, and didn't anyone actually try this out before they put it on the market. I'm disappointed.