I am getting a fair amount of both spam and non-spam that seem to bypass the SMTP proxy. The proxy does catch a few pieces of mail, but the majority seem to pass right though. The mail manager does display the occasional blocked mail (or accepted mail, mostly ASG generated mail).
I have seen reports on this forum about reports not working correctly, but I have not seen anyone else post about this issue.
SMTP->Advanced->Transparent Mode = does not matter if this is checked or not.