Thoughts for now, keeping in mind there's a "new and shiney" bias here.

I adore combat

* The FPS ****combat is a breath of fresh air.
* The Cover system is unique and makes me think a bit more about how I fight. Its a lot more interesting for me than the simple "do I have line-of-sight?" range game I play in COH and virtually every other MMO I've tried.
* Getting a bead on the guy you're fighting for an accuracy and damage bonus is nice and like the cover system smartens things up a bit for me. Combining the two gives a really good feel to mid to long-range game.
* Not all weapons require the bead! Short range feels good too, especially since I've fallen in love with the shotgun. Much like COH, positioning is important especially when dealing with damage cones.
* No rooting that I've seen thus far. While not a big deal in COH, its very important here.
* The fact that damage types matters is pretty cool. The giant hulking things that show up during control point fights are scary when you see "Immune" show up over their heads when using small-arms fire. Likewise, the Lightbender's (natural defense vs laser weapons is neat, but they perforate quite nicely with standard rounds (they're a little alien that can bend light to cloak or blind you, literally, with a flash so it can run away and escape when near death).
* Standardized ammo. While not overly realistic, the fact my rifle, pistol and shotgun all use the same standard rounds is awesome and makes life sooo much easier. Same with my laser rifle and energy shotgun thing (which I totally love).
* XP multiplier for multiple kills in a short period of time. How can you not like that?


Movement/Travel

* Teleporters. I love them. Also a great reason to make sure control point is under player control, not enemy control, since you can't go somewhere that's not friendly. Good reason to explore, too.
* Medical facilities. I love them. Same as above, really.
* You can actually walk.
* You can put the guns away and go full out.
* If you have adrenaline, you can Sprint.


Missions/world

* Targets of opportunity are kind a cool, and can be done while you're doing everything else.
* Directions given on the mini map, and can be toggled on or off.
* So far they make sense. I'm not collecting things just for fun here.
* Friendly and hostile NPC spawning actually makes sense. Transport zooms in and teleports them to the ground.
* Friendies and hostiles actually fight each other. The world is alive and things carry on without you.
* Looting is easy. If there's something for you, there's a sparkle. If there's a quest item? There's a distinct glow.
* All vendors have core staples you need and can repair your gear. You don't have to go searching around for ammo and repairs; anyone will do.
* Control Point battles are a lot of fun; nothing like having to storm a control point so players can use it again. Trying to defend it is crazy, as the enemies will take out the major defenses first (like the two big cannons), then go for the shield at the gate. They'll try to get you too, but there's a goal. There are assault and defense tokens to be earned, too, which can be traded in for stuff.


Misc

* Sci-fi. I'm shallow, so even if its ranged WOW in kevlar, I'm happy.
* Cloning rocks on toast.
* The gameplay is easier and more forgiving to me and my non uber-self than Gears of War or Condemned.
* Storage in your locker is per server, so any characters on that server can use that storage locker to get stuff; items, armor, weapons and money. Very Guild Wars-ish.


Misc quibbles

* COH's interface is better/easier but that might just be the learning curve.
* UI and FPS mode take some getting used to alternating between.
* The ring (hold control) takes some getting used to and seems a little redundant. Its not required, though.


Just my thoughts thus far. I'm really enjoying the hell out of this.