Its buggy out of the box & has some fantasy stuff that sux, but that is not substantially different to MTW out of the box & likewise, I expect that with patches/expansions/mods this will end up mind blowingly good.
Realism mod 2.2 is a pretty good start.

System requirements to run with everything maxed are pretty steep.
Trying to run a custom battle with huge units, everything else maxed on my new A64 3200+, 1gb ddr400 & 9800np (128mb, think this is the short-fall), I get the 'blah blah more men than your system can handle, blah, performance degradation' message after about 6000 men give or take. (& it does perform pretty badly :( )
This is not to say it looks ugly with stuff turned down though, cos it doesn't.