Graphically it's a stunner. Gameplay, not so much. In terms of what it offers it's more Elite 1.5, pitching somewhere between Elite and Frontier. There's nothing really new or substantially improved on gameplay wise aside from a reputation system that the jury's still not sure works in any significant way. Missions are generic no matter where you go. Is it enjoyable, yes, but it has very little depth past basic combat and trading. I was expecting that the gameplay would have been evolved in the same way the graphics and sound (which is staggeringly good in places and never less than very good) have been, but it's not the case. I couldn't wait to see what game FD would create from the resources modern systems have, but in the end they just stuck with what worked a few decades ago.
Personally I find that a bit disappointing.