It badly needs some patches. Framerates are a real concern in a lot of matches. I was super excited about having three managers at ringside, but if you actually do it it slows the game to a crawl. And I have the day one patch they put out.
CAW mode is hard to rank. Yes, body morphing being taken out really sucks. But in about ten minutes I was able to have make my CAW and be satisfied with his body type before moving on to the face. This process would have taken hours last year. But I feel like as I make more, they're going to look very samey. The face morphing is way better, with different textures and sliders. Plus the photo morphing is still in. That's all very awesome. What I really like is the new ability to apply materials to individual parts of clothing (particular colors, particular logos) instead of the whole blanket thing. Awesome new touch.
The gameplay has a few differences that are really awesome. Backstage brawling is fun, obviously, but my favorite new thing is they totally changed their turnaround animations. Now, you stomp on the guy and he turns over or you just wind up, belt him in the face with a punch and he spins around. I love it. Way more natural.
It's a mixed bag - but mostly good. I'm happy I spent the money on it, and I am not a rich man.