Overall great addition to the series, but a couple of decently sized flaws with misc. inventory, bugs, and vendor setup.
I pre-ordered the special edition, and so I ended up with lots of ingame goodies, including a custom made villager of my own design with his own quest. I love that the rewards for the special edition were mostly ingame....the material add-ons most games have are cool, but mostly end up gathering dust on a shelf somewhere.
As far as dislikes go, I have the same complaint as with most new games: Too many bugs. The same type of spouse/family bugs from 2 seem to have popped up again (my poor little custom villager has been a casualty). Your character is automatically named after your xbox gamertag, which is a big drawback for me as I am really into the roleplay element and "IamSJane" isn't exactly a good name for a queen. The new vendor system also sucks. Instead of having a decent inventory, most only sell 1-2 items at a time, and you have to wait weeks for them to update their stock. This makes the dumb little relationship quests (another drawback) much harder to complete. The graphics this time around are beautiful, but I've also noticed lots of clipping with clothes, items, etc. Not really a huge deal in the grand scheme of things, but it is kind of annoying when you're trying to examine something and can't see it.
By far the biggest drawback though, is the new inventory system. I actually really like the new 3D "sanctuary" set up, and the few extra seconds it takes to change clothes/equip weapons is an ok trade off for me. What I do have a huge issue with though, is the lack of a personal item inventory. You can pick up the same random crap as in the first one, but you have no idea what or how many things you are actually holding onto. I hate not knowing that I'm only down to one health potion until I'm in the middle of a major boss fight. I hate not being able to randomly eat a bunch of celery if my character gets too fat. Most of all, I hate not knowing what all I have, and being able to sell it easily (the pawnbroker sucks).
Overall, I gave the game an 8.5. I like it, I'll probably replay it at some point (after I finish Fallout: New Vegas a couple times), but they could've done a little bit better...and maybe sent out a couple beta copies to the fans, so they could give their input.