I think it looks (and sounds, by the way) really good. It really adds depth to the world, and will add even more when they become upgradeable, customizable, and doorways to multiplayer Incarna. Right now it's mostly aimed at the newer crowds, but I think that's a great starting point. Plus, the holoscreens are really informative.
I think a few UI elements (or lack thereof) definitely need some work, however.