I dodn't fall in love with Falling Fred, but Running Fred's definitely running through my mind!
The graphics and sounds are good, and feels overall as the same quality and calibre as Frisbee. It uses the collect and purchase unlockable system, so you can replay levels and collect more coins to purchase upgrades. The gameplay is smooth and functional, and there is a good variety of game modes and unlockable modes.
Great game, somewhat similar to games like Temple Run and Jetpack Joyride, but I like it better than either, excellent graphics and a goofy gory sense of humor.
I haven't had any problems with things loading up yet. Although, other running apps might slow the game rendering down.
Edit: Correction. The survival mode definitely gets choppy, and that problem with objects suddenly appearing in front of you becomes pretty common.
Also, the prices to unlock things suddenly gets very steep. Unless you don't mind playing over and over just to collect coins, or buying coins, it can get a little tedious.