After playing this mod for around 6-7 hours here is my short list of pros and cons.
Pros
The universe look great.
A lot more variations in equipment, ships, weapons.
Widescreen 16:9 work great. Working ok with 21:9 ultra-wide, but is missing part of screen, but thats a trade-off I accept for now.
Nice sound effects.
Cons
NPC enemies is damage sponges, and can take a lot of damage, so much that it can be frustrating how long time it take to kill one enemy. It's on the border of not being fun.
Money: Player earn money insanely fast in this mod, after a few hours I had more than a million. For this I can buy almost all the best ships, weapons and equipment in liberty space.
Ship progression and to buy better ships, weapons, and equipment was what Freelancer was about, with this mod I feel like Im skipping through a lot of content in a short time.
Many more enemies attacking me all over the place, but Im not sure about this since it is a long time since I played Freelancer.
Who is this mod for?
I think this mod is more for the "serious" player and not so much for "casual" players. The reason for this is that you need to spend some time learning to kill stuff.
Right now Im cruising around in god mode, got so annoyed by all the attacks and that it take forever to kill anything. So i'm just exploring looking for better ship and weapons. the stuff I start with dont do much.