I loved what I read about it, but I've admittedly not actually played it yet. The alpha version looked a little too broken to be fun.

I'm probably most enthused about the naval changes (military wise). The old system is completely indecipherable, and I'm not sure if it's broken or I just don't understand what's happening. It seems impossible to protect your convoys.

Land combat formations seem much more sensible as well, although I didn't have severe problems with the old system. It should make it much easier to phase in new technology and maintain non-uniform unit types.