Lets be clear: Pig powers Yahoo and LinkedIn. Large enterprises. There's no question whether it is production ready.
We unit test our pig scripts, it's pretty straightforward given MockStorage class we have contributed (you can find it in pig trunk). Granted, we've long been separating load statements from actual logic, which allows us to fairly easily mock up data to feed into the Pig flows. It would be harder if your loads and flows are in the same file.
https://github.com/linkedin/datafu/tree/master/test/pig/data...