I've played a couple hours of DA2 and I like it so far. Very minor spoilers.
High Points:
1. Performance - I'm playing DA2 on my m11x and it runs on high settings like a charm. DA:O runs fairly well on High as well, but there could be problematic lag if I don't restart DA:O every hour or so. I'm guessing DA:O had a fairly severe unplugged memory leak while DA2 doesn't. I'm using the hi-res texture pack (which, ironically, I cannot use on my much beastier desktop because my desktop GPU only has 512 megs of VRAM and doesn't support DX11).
2. Graphics/art design - Characters look much better than they did in DA:O and the level art is much more interesting, at least in Kirkwall.
3. Voice Acting - It seems, I dunno, less stuffy than the acting in DA:O. The incidental characters are well-voiced, too. Flemeth even seems better acted by Katie Mulgrew.
Just, well, points:
1. Combat - It's different. I'm playing a mage femHawke, and her basic staff attacks seem heftier than the mage's attacks in DA:O. She also attacks *much* faster; at my best count she attacks 3 times every two seconds. DA2 seems to throw more enemies at you per fight, but the lowliest mooks die a lot faster than in DA:O. Then again, most fights have included waves of enemies, so it's tough to tell when a particular fight is close to an end.
2. Difficulty - The jump between normal and hard and hard and nightmare seems much more significant. On nightmare my mage gets regularly destroyed by single hits from mid-tier mooks while on normal I never need to chug potions (which are not called poultices this time around), thank heavens. So far I've played on Hard and find that fights are tough, but winnable if I pay attention.
3. Mages - My mage doesn't seem nearly as overpowered as a DA:O mage of equivalent level (around level 5 right now). I think this is because the classes have been re-balanced; my mage still does a good bit of damage. Despite the generally faster battle flow, spell cooldown timers seem to have been substantially increased from DA:O.
4. Hawke - Hawke seems okay so far. I'm using mostly "good" conversation options and Hawke's responses generally fit with what I expect. She does have that Commander Shepard patronizing tone thing going on, though.
5. Time leaps - There's a lot of potential here. So far I've experienced one significant time leap. It's annoying that Hawke greets random NPC's as old friends while only referring to why Hawke and the NPC know each other in the vaguest of terms. It's stupid and jarring. I just may have strong personal aversion to references to off-screen events that sound important; it just seems like lazy writing.
Low Points:
1. Art Design - When it's good, it's good. When it's bad, it's ugly as shit. The beginning Lothering location feels unfinished and unconnected to the world. The one location I've been to outside Kirkwall was bland.
2. Who am us, anyway? - After the first time jump, Hawke and sib are randomly given a quest that becomes the main quest. I found this jarring. It really made me wonder who Hawke my player character, is. I hope the rest of the game hangs together better.
3. Inventory - I still loathe not being able to customize my companions' armor. I hate that I get so much armor loot that my mage will never be able to use. I feel like it's all a waste. I mean, I have this set of Blood Dragon armor just taking up space because it's worthless to sell and my companions refuse to wear it. I guess I just like to play dress-up. I think I would mind this limitation a lot less if you were able to equip your sibling, at least.
Bottom Line: This is more Dragon Age, sure. But rather than being the bastard child of Mass Effect and Dragon Age, I'm beginning to feel like it's the bastard child of Dragon Age and Planescape: Torment (another game with very limited armor options, I'll admit). That is, DA2 is strongly focused on an overarching personal narrative rather than the accomplishment of a concrete goal from the get-go (such as: Destroy the archdemon; rescue Imoen and destroy Irenicus; get a waterchip for your Vault). Kirkwall has far less character than Sigil and so far the companions aren't as colorful. But I can clearly see that DA2 aspires to Torment's level of storytelling, and I admire it for that. It's a consolized and streamlined iteration of the DA franchise, true; but it also seems, so far, to be trying to weave a more ambitious and personal tale. I hope it succeeds.