With respect yes – it just does not feel premium and the typography is far too plain, that drop down category menu feels cheap, the grey background does not look great and generally design wise it does not really offer anything special and just does not compete with the other files in this category here.
you have a building block but it needs to be refined and developed further
The first reply is right – the blue section around the logo is padding so you will never get the logo to cover it without modifying the stylesheet and this rule.
If you use a CSS plugin or if there is a custom CSS section in the theme options then updating the theme will not matter but ProfTeam is right if you modify the actual stylesheet itself (not via options panel) you will lose it when updating.
you do not have to include the PSD
You can ask email@example.com about refunds. Those errors sound like it is just images etc that are not importing. WordPress has evolved a lot since WP3.5 and it could well be that you are using 3.9 that is causing this issue. (amongst potentially a load of other things).
If it is bugged then you would get a refund but if it is down to the version of WP then you may not be so lucky as the theme does advertise that it only goes up to 3.5
Out of interest what version of WP are you running?
The file states it only supports up to 3.5 and your importing etc could be related to the major updates that have taken place since then
Is this not your job as the author – with respect tif you cannot fix this then you and the theme are not ready to be releasing files here