You've gotta love it! Great BF2 gameplay plus some more, which you should definately add to your library.
The graphics are awesome in my opinion. Yes, the engine is getting outdated but it doesn't feel that way when you have everything cranked up with such beautiful modeling.
I have a X-fi which enables me to access all the highest sound options. So this is based from my standpoint. The ingame sounds are wonderful while buzzing all around you such as hearing the thumping of air strikes in the distance. Also, unlike BF2, 2142 has a song for each map in the game. It's a nice touch of variety while waiting for load up (Which by the way, took seconds for me once everything was optimized from the 1st time I played). One thing though, there is one song which plays at the end of every match no matter what map, but that doesn't exactly count. ;)
Of course, the value is very high for you will get hundreds, if not thousands of hours of gameplay just like you did in BF2. :D The maps have perfect balance and are layed out in ways where we still have those epic battles in certain spots, but on the other hand, you never feel out of place.
Now on the title, I recommended this game to BF2 veterans. I feel that if you're a beginner to this series, you're going to have to learn a lot of contols and how to play. However, a veteran should be able to pick up and play and easily learn the new features quite quickly.
Now don't forget, there's a bunch of stuff I didn't include in this review. To name a few: Friends list, Commander options, Squad leader specials, Many unlocks w/ customization, Clan tag add on feature, and a few more. (Which I think were made mostly for the better good.)
Hope to see you on the battlefield. ;)