This game isn't Privateer, but that doesn't stop it from being fun - if you're willing to put effort in at the outset.
This game is for everyone who played DarkStar One and thought "You know, this is a cool game, but **** I wish I wasn't stuck with the same ship throughout the entire game."
The good:
It's got the combat emphasis that the X series lacks and it's got the joystick control that Freelancer lacked. It's got the ability to purchase multiple ships (up to 14) that DS 1 lacked. Plus you can upgrade whatever your current ship is in multiple ways. It's got pretty good graphics - lots of eye candy although in Space Combat games, that's almost a requirement since you can't interact with 95% of your environment. It's got cool cockpit graphics which are optional but if you're like me, then you like to have them in place for "atmosphere". And it's got a large universe with a fair amount to see and do.
The Bad:
Like all games of this type, 90% of your missions are go to X and kill Y and it does get repetitive after a while, but I've yet to play an Open Ended Space Combat game that doesn't have this problem. The game has no way of easing you into it - no tutorial and the manual is pathetic. The HUD is not terribly intuitive and figuring out what all the indicators mean and all the keyboard commands actually do is a matter of trial and error or searching on the internet. Add to that a fairly brutal difficulty on the default setting and it makes for a game that's custom tailored to turn off all but the most dedicated Space Combat fans. You can't land on planets - space stations only and you can't look left or right - only straight ahead or behind you.
I guess I like this game because for the last 15 years I've been waiting for a worthy follow up to Privateer which is essentially my all time favorite game. While this game is not that worthy follow up, it is a decent enough experience in the same vein to tide me over until someone does come out with such a sequel.