What I learned from Ayn Rand:
She could not apply her philosophy to herself. Her philosophy didn't save her from being sexist and homophobic, and she can be seen as promoting sexism and homophobia which, in a strict sense, Objectivism should eliminate.
Her philosophy mandates economic peons. It is predicated on the theory that men are inequal, and it is foolish to promote the advancement of others. Without peon consumers, there is no market for the Objectivist business owner (not everyone can nor should be Objectivists - you need a caste system for the philosophy to work on a large scale).
An extension of her philosophy: inheritance is ill-gotten gains that an individual did nothing for, and should be outlawed.
An interesting, if flawed, promulgation of Objectivisim can be found in Terry Goodkind's works. Like the original philosophy itself, it breaks down around the issue of "greater good": on the one hand, Objectivisim purports to recognize no "greater good" beyond the individual; on the other hand, when establishing rights of conquest and acceptable targets of violence, the "greater good" banner comes into possession of the state or nation that proclaims itself "right".
The true Objectivist can be viewed as little more than an amoral anarchist when you really look at it.
There's a bit of loose playing with terms in this thread: subjectivity, objectivity (lower case), perception...indeed, I have met few people that are capable of pure perception, they can only access their interpretation.
There are some good things to take from Rand. It's dangerous to adopt her ideas whole-hog.