I have installed APM 2 weeks ago and have had nothing but problems with this feature.
Original install did not function and gave so many headaches that my entire Orion suite needed to be re-installed after rebuilding my entire server.
First off upon APM not working it messed up the Original Application Monitor (AM) in which support told me I had uninstall and re-install APM which I did several times and somewhere in doing this it removed the change uninstall for AM and I was no longer able to remove or re-install this. This some how corrupted teh Window installer to which I could not just remove and re-install Sp2 for Windows 2003 since the Windows installer was not working.
This caused me to have to repair my Windows 2003 server and then re-install Orion and run all service packs.
Today I had another error with APM in which it could not connect to the APM service engine in which I had to re-run the orion configuration wizard.
The application templates are useless in APM since they need to be rebuilt to conform to each business' way as in how the applications are setup so they may as well not even be included. I would prefer a better gui or be able to use the network performance monitor like the older version AM was where you right clicked on server and then were able to choose which services or applications you wanted to monitor per server then the current template deal that is in APM.
I am still trying to figure this whole thing out but I would suggest everyone stay away from this version until they have it working better then it's current form since what you get is nothing but headaches and no better application monitoring then the AM version. I don't see any improvements other then templates that are pretty useless.