I would say that the game play has improved. There is more of a focus on team work and cooperation than in BF:1942. And while there are definetly some issue that need to be worked out (point farming, tk punish, & weapon ballance) I would say that it's a good game. The system requirements are a bit steep and I'm forced to play with my video settings tuned to 'medium'. There are some key mapping issues as well.
The next big patch (August?) should address most of my complaints and the soon to be release expansion pack looks really good.
For this to be a great game, give it about 12 months. N00b factor will wear out and the bugs will be fixed. Hopefully by that time the mod community will have made some great new maps and games on the engine (like DC)