updated README

Author: ThomasWaldmann

README.rst

@@ -4,8 +4,8 @@ What is py-esp32-ulp?
 It is an assembler toolchain for the ESP32 ULP (Ultra Low-Power) Co-Processor,
 written in MicroPython.
 
-The goal is to be able to translate small assembler language programs to
-a loadable/executable machine code binary, at runtime, on the ESP32
+It is able to translate small, simple assembler language programs to a
+loadable/executable machine code binary, at runtime, on the ESP32
 microcontroller, from projects implemented in MicroPython.
 
 This is intended as an alternative approach to assembling such programs on a
@@ -15,9 +15,15 @@ development machine using the binutils-esp32ulp toolchain from Espressif.
 Status
 ------
 
-Work in progress and not really practically usable yet.
+The most commonly used simple stuff should work.
+
+We have some unit tests and also compatibility tests that compare the output
+whether it is identical with binutils-esp32ulp output.
+
+There might be some stuff missing, some bugs and other symptoms of alpha
+software. Also, error and exception handling is rather rough yet.
 
 Please be patient or contribute missing parts or fixes.
 
-See the issue tracker for know bugs and todo items.
+See the issue tracker for known bugs and todo items.