'iBeacon' is great for very general and very localized location finding, but you're going to have a very hard time triangulating your location very precisely in say a department store.
Now I'm not a radio engineer, it may be that it was too many beacons for the area or the general wireless soup was high but it could sometimes take 20-30 seconds to see that beacon as immediate with your phone sitting smack dab on it. Sometimes 1sec. (iOS7.0 on both ipod touch 5thgen and iphone 5 devices) . Perhaps the filtering they use just needs to be tweaked a bit.