I got the game yesterday and played for several hours.
I like the graphics and it plays pretty smoothly. It's still suffering a bit from "new-game-itis" but it didn't crash while I was playing, and there wasn't much lag at all. I got DC'd a few times during loading screens. I didn't come across any major bugs. More importantly, I had a lot of fun.
Character creation isn't as full as CoH/CoV, (You just can't help comparing), but its way better then many other games. The tutorial is pretty thin, it gets you into the game, but you really need to figure out most of the game on your own. I like the voice overs from the iconic super heroes, You're constantly getting calls from Batman, or Wonder Woman, that sort of thing. The missions I've played so far are pretty average, kill 10 rats, defend some NPCs from 10 rats, fight your way past 10 rats and help some "real Superhero" kill a boss rat. But, as I said before, I had fun doing it.
My toon is only level 10, and I've only played hero side, so I can't really give a considered review yet, but it seems like a pretty solid game so far.
Anyone have plans to found a Stonewall League?