It's not perfect but it's fun.
I've been playing through this game with a buddy of mine and we were really enjoying this game until we got to Barazinbar. This is where the procedurally generated maps became an issue...
We have spent a day and a half trying to navigate to the dragon hoard in this area to no avail. This is mainly due to the fact that every other room looks identical to the previous two rooms we just made it through. The map isn't much help in this scenario as you can reference it to try and set a course only to find that there isn't a way through that side even though the map shows there is. In our current seed there are at least 7 of the big cavernous rooms where there are 2 or more ways through depending on the depth that you're currently walking.
I'm all for a challenge but this is just frustrating.
We've had a few issues with multi-player but nothing a quick restart didn't fix.
The combat isn't the best but it functions just fine.
The crafting is where this game shines. Being able to craft out of chests in your base instead of your inventory is wonderful.
The building is fun but could use a few tweaks here and there. Primarily a first person mode for building would be excellent. Also, as of the update on 11/2, rope ladders are no longer in the quick build menu.
It would be nice to be able to transmog armor so that my buddy and I aren't always twinning from wearing the best armor available to us at the time.
All in all, this game has plenty of room to grow and hopefully will. It's worth $40 in my opinion.