I have been using the trial, then QBO Simple Start for a month. There are at least two unresolvable, dealbreaking issues:

1) The description field doesn't show up on the recent transactions list, nor on many other reports. 
2) A split transactions shows up like that in the reports or exports, as a split with no details of exactly how the transaction was split. Sure, you can see it by using the "split" hyperlink, but that isn't a viable option for when you need to deliver printed reports.

Which leaves me flabbergasted. What were you thinking? Holding on for the issue to be resolved at an undetermined point in future isn't an option either, neither is upgrading just to get basic functionality, that should've been there in the first place. Seems like going back to the desktop version is the only solution.