I had a very good experience with both my first and second interviews. Company and I both felt like we had a good match.
The issue I had with this process was that I was told multiple times that an offer was imminent, and they called my references. All agreed reference calls went very well. At the last minute the owner got cold feet and it was due to budget. They understood my salary requirements beginning with the first interview. I feel strongly that the last phase should've been calling my references. I gave then very high level people, and I can't play these cards forever.