Privacy isn't "free", you're right. Epic supports password saving -- since it's the user's choice, we determined that we could leave it in. Many things can be done in a private way, so for example we have implemented local address bar auto-fill, so you can type "f" and have facebook.com appear but it's not based on your history nor any query to a web server. We will be building in more such services to make using Epic both private and convenient!! Epic does by the way auto-update for Windows though we hope to make it optional in the future for the extremely privacy conscious. For the Mac, it will give you a pop-up when there's an update so it's just about as simple as auto-updating.
Yes you're right spell check surely can be! We'll work on it. Chromium is difficult to work with as something like spell check will be built to be supported as a web service so migrating it to a local service takes a bit of time. Great idea though and something we will work on!