My only complaints so far / questions(sorry if they've already been mentioned):
Ultra Speed: It's so slow! I have to take out a book when everyone is asleep or at work. This isn't just my computer, right?
Body Parts: I thought you were supposed to be able to make arms skinnier or fatter individually. My game only has one bar to adjust and by the looks of the pre-made sims you should be able to do that-- might be there with final version.
Going places: If the sim doesn't have a bike or car, they take off in this mad dash to wherever they are going. And sometimes even with a bike my sim would just run there. One time my sim ran through peoples yards to get somewhere at around midnight. It's just creepy.
Relationships: Can sims even fall in love? I've had a sim get pregnant by another sim. They are still just best friends. There is no marriage option yet, propose option.. or even crush.
Relationships seem to be difficult anyway... one "bad" trait such as non-humourous and you can't use jokes or be told jokes which seems to be the only good way to build relationships. =|
Things I like:
Needs/Wants: I love the new system for them and how they aren't the focus. Everything effects your mood and it shows you how many hours it will effect your mood. Even things like back aches from pregnancy to someone complimenting you to being able to complain to a friend.
Navigation: Although the navigation was a bit hard at first it's actually well done. You can track their progress on the map view and you just click anywhere to zoom in. There is a button to send your sim home without having to try to find home, and you can click to zoom into one of your sims from anymore. Sims in a house hold can all be in different places at once.
Traits: Endless possibilities with these, much better than personalities like in TS2.
I don't understand "the horror".. it's still an okay game and the seamless neighborhood is worth it. :3