I'm a huge fan of Presenter View as you can better organize a talk with hidden notes. Alas, Presenter View is buggy. Due to an oversight the first line of the notes is always hidden in the default Presenter View.
This significantly worsens the usefulness of the feature as the most important text is usually in the first line. It should of course be displayed by default. You can scroll up of course but in a fast moving presentation it remains a big drawback.
I'm using PPT 14.6.8 on a Mac.