For a project one can create Milestones and have a particular Milestone (i.e. Release I) have other Milestones as dependencies (i.e. Iteration 1, Iteration 2, Iteration 3).
But when you look at the Project's Schedule the Milestones do not represent any hierarchy or dependency. They are listed in the order of Completion/Official Date. Which is fine I guess as I'd see a list like (ordered by Official Date):
Iteration 1 Iteration 2 Iteration 3 Release I Iteration 1 Iteration 2 Iteration 3 Release II ...
But then what does specifying dependencies for a Milestone buy me?
Maybe I don't have enough data in this trial for it to be meaningful.