Last patch did leave a lot of issues unresolved, but altogether the game is VERY playable atm, international Il2:ClOD championship "Gladiotors" (that is in the closing stages already) can testify to that. It went through very smoothly, without any Launcher.exe problems during duels that sometimes went on for 1.5 hours at a time. (
http://ru.twitch.tv/gruztv2 ,
http://ru.twitch.tv/dip78/videos )
I personally, having flown CLoD, now find Il2:1946 FM to be crude - the crazy stall fights with planes that are far too forgiving,light and sensitive are not what CLoD is about. Ballistics in CLoD are on a different level as well (while not as good as ROF's has become lately).
RoF is my main game for now, but if I had to switch, I would definitely overlook old Il2 and War Thunder and go for CloD. In fact, if I preferred WW2 planes, I would switch already
As for content- il2 was just as bland, boring and lifeless, it was its community that made the missions/campaigns/wars. CLOD as a platform is immense - it has more models of different types of fence than RoF has models put together), scripts and triggers can do stuff that is impossible in old Il2, it can run more than a couple of AI units in multipalyer missions (unlike RoF), it is nowhere near as limiting to simultaneous unit numbers as RoF, it has FUll Mission Editor that while can create very complex missions with alternative branchings of events is still easy to pick up and start using (unlike RoF again), etc... So it STILL has the potential to grow, now that the final patch is out, only this growth now depends on community.
Summatively, I look to CLoDs future with optimism