I've had a lot of fun with it in the limited time i have played. I've been pretty busy and traveling a lot over the last few months. I'm an online player, so not much single player for me, except to test my settings. I still don't have the beta patch either, and I hear it makes it even better. At this point, I'll just wait for steam to update when it's officially released. looking forward to this winter when work normally slows down, and I'll have a chance to really play. I do have a fairly hi-end system (950@4gHz and 2X6870's), so the game has always been playable, and run pretty well for me, at least it has from the time i bought in, which was the North American release.
So overall, especially looking back at other some other games i have had (including the original il2 from before day 1) , I'd say the state of the game is about normal and getting better. I also look at the history of this series, and have high hopes that in the next few years, this will be the one of the best flight sim games out there.(and probably the only decent ww2 sim)