It's a buggy mess right now. The DRM needs no further comments from me (unable to play singleplayer etc as UBI servers are bombarded again). If you can be bothered to tweak and get the relevant mods (there are a ton already) it really helps a bucket load. The graphics and immersion blow me away if I am honest, I will quite happily pan around the camera and just watch the game and go 'oooh' and 'ahhhh'. It's really pretty.
Once it is patched up and some of the super mods come out I think it will be the daddy. If you don't mind some patching and tweaking it is passable now. But you really need the mods to get the best out of it. Few recommended mods are the new UI, old controls and dials, Capt Helms effects mod (pretty gfx), sound mod, depth under keel cfg line etc. Subsim forums are a great place to visit for the mods, and more info on how to get this messy game sorted out.
D3D overider helps with the flaky mouse movement I get (just use triple buffernig option and not vsync).