I've had Paper Butterfly since 2009. Thought I got rid of it but some came back, so I put it up closer to the house. It blooms between mid-June and the first week of July. Branching and bud count aren't great, but it does get a fair amount of shade where it sits now. I've not seen rust on it.
It does tend to curl up on the inside of the petals, which is called "canoeing". For some folks, this is an undesirable trait. It doesn't bother me, but it does take away from that beautiful eyezone area.
I usually like taller daylilies, but because this one is near a walkway, I think it fits.
On really good days, it shows off that nice green throat.