I'm still just a short way through the Imperial campaign, just at the second sector, but am enjoying myself so far. There are a lot of improvements over the first in terms of balance and playability, but I'm still not sure how I feel about the gratuitous use of node capture objectives even for single player encounters.
I tend to fly AdMech/Imperial Navy, but have also tinkered some with Orks. So far it's surprisingly well balanced considering the number of factions and their distinct playsyles, which I think it probably owes a lot to the original tabletop ruleset and mechanics. Corsairs still suck last I checked, but all the other races are more or less comparable, with Tyranids situationally very powerful (re: as long as they can close the distance) and Craftworld Eldar dragging some behind the pack but still way better than Corsairs.
The graphics improvements have pushed the engine to my clunky old CPU's limits, so I have been a little afraid to venture more heavily into multiplayer.