I've seen the character with a chair stuck to their hand, but I didn't think it was a bug. Since the character was near the furniture shop, I thought it was the furniture seller/maker carrying around their work. :lol I didn't bother to check the name of the person holding the chair to see if that was the case.
I've also seen occasional slowdown, which is very rare and has yet to affect gameplay. I've experienced the poor collision thing when you dive into a lake, but I was able to get myself out after some wiggling around. I've also seen the neckless dog (missing collar). I consider all of these polish bugs, which I'm sure Peter Molyneux would love to have fixed (and still might with the zero day patch), but none of them affect gameplay.
One bug that I do consider affecting gameplay is during the jobs where you have to time your button press when the circle goes into the proper area, if you are popular, NPC's will hang around you and sometimes stand in your field of view, which makes it hard to do your job. They may go translucent, but it's still a walking distraction that goes literally right over the gameplay area. Not a gamebreaker, but it is annoying.
I'd say the game has bugs, just like any other game, but most of them do not affect gameplay. If there's people who choose to avoid the game because of the bugs, they're missing out on a great experience for a silly reason, but hey if you want to skip out on game of the year because of a few minor issues, it's your loss. It's not like Castle Crashers where the game was unplayable online.