Hot damn this game's good. Transparencies and animated textures on the ships. You can customise everything from your characters clothes and glasses to eye colour and weight. The ships have some basic forms that you chop and change on sign-up (eg Pick a Hull, Pick wings, Pick engines, Pick an engine color). The effects are cool (warp especially), the wierd-ass aliens are cool. It kicks-ass.
It's kinda like Starlancer, Tachyon, Privateer and JumpGate all roled into one but with waaaay better effects than any of them.
The only thnigs I can find wrong with it are beta-related (lack of places to go, people to see, visual changes to the ship). They also have some strange name restrictions (only letter, no numbers, no spaces) although that's probably to keep the people you meets names realistic. And then there's post release unknowns like mod-ability.
But sufficed to say, it's good and you should buy it.