I've been playing this game for about the past week or so nonstop, and I have to say, graphics aside, it's a fucking fun game. It's so fucking addictive, very much like Diablo in space. The storyline is decent, nothing spectacular but nothing teeth-gnashingly bad. The sound is very well done, and gives it an etheral atmosphere, in my opinion.
Combat, on the other hand, is pretty meh. Basically you hit the spacebar to lock on to an enemy and then you click, click, click, click until said enemy is blowed up. Though it can be fun when you're dogfighting in an asteroid field, dodging planets and stars and looping back and forth fighting. These kind of moments are the best in the game. The thing that detracts is that enemies cannot go through jump gates, which means you'll have no galaxy-spanning fights. Damn!
Of course, there still needs to be some stuff added, mainly: Graphics. I'm no graphics whore, but please spruce up some the textures a wee bit? Maybe just so they're not that blurry? That and the other thing that would make this game rock really hard is the option to go on planets. Zoom down onto a planet, fly around and dogfight a bit, join the army and fight in huge battles over the planet and on the planet. Do bombing raids on towns and such, I think the author could pull it off. Also, when in your ships menu screen, it would be nice than when you highlighted it's stats (Navagation, Tatical etc.) a little tool-tip or something would tell what exactly the signifigance of it was.
So, all in all, it's a very decent game and when you take in account that it's fucking free, it just gets better.
