"WotC may have some design issues, but if a top level 3rd party product was as flat out unedited as IH, then 3rd party products are not for me. (seriously, had *anyone* but Mearls read it before publishing? Had he gone back and done basic sanity checks??)"
For what it is worth, I'm pretty sure that Mike Mearls was hired by WotC before Iron Heroes was entirely finished. They probably had to do a rush job on the line to get it published before his exclusive contract for WotC kicked in. I don't have a citation for this, but the timing was about right, since Mearls left Malhavoc and started working for WotC before the third IH supplement hit the printers, IIRC.
As for unbalanced mechanics in IH, that doesn't reflect nearly as much on third party products as a whole as it does on Mike Mearls' specific design philosophies. I guess what I am getting at is that, IH, being wholely the responsibility and brainchild of Mike Mearls is probably the best indicator we have of the quality he is capable of. His joining the WotC team does not suddenly make him blessed with greater insight and skill than he had before.