Pros
Great visuals. The customization options are quite good, and I really like the fact all faces aren't designed as japanese comic heroes or vogue models. The options are not abundant though, and may wear thin pretty quickly as the multiplayer gaming gets rolling.
It seems to stick by the D&D rules a lot better than NWN1.
The toolset makes for great gameworlds.
It's all fresh and new!
Cons
Pretty steep system reqs.
While I generally like the interface, the biggest problems for me is that you can't really put anything useful in all those quickslots- you don't need to put spells there, since you have the quickspell menu, you can't assign emotes or macros to it anymore (which is horrible from a MP point of view) and in many MP games you won't need a 50+ slots for items. The "mode" window is great, but you can't customize it. One of my characters is stuck with parry (never use), stealth (never use) and detect (never use either), which i.e. means the whole window is a waste of space for him.
The clunky way to control companions and lack of quick, key controlled voice commands. I guess the "everything within two clicks" was a great thought, but it often turns out a heck of a lot slover than it used to most of the time.
That said, I love it (although I guess they could have gotten away with anything because hey, it's Neverwinter Nights 2!