I sent SMC from an old wallet to the new one, and it didn't register because no mining was happening (I didn't see the transaction at all in the new wallet). But then when mining started a few days after, it went through. Therefore, transactions do currently work, but may take a few days or weeks to process. The important thing is having a wallet that you control and the keys to it. Working on making them fast in the next to-do item on the list.