A bit late for comments I guess but I'll throw in my sixpence anyway. I actually play Vanilla and not any mods, so I probably have noticed more than those who do.
PRO's:
Spain no longer has that ugly ahistorical gold color. The uniforms are actually spot on. Better uniforms in general for all nations too. Always a plus.
Lagfests are relatively non existant now, even when I do play with people from distant lands.
The DLC units are awesome and they give a big flavor to the game. Yah, paying for them is a bit silly, but the best way for a game to keep its fan base interested is releasing new content. Brilliant scheme charging for them though.
Nations are still relatively similar, but each nation is no longer a carbon copy of the other. Some nations' line infantry is better than others, etc...So one has to be mindful who they are fighting against, etc.
Nations like the Netherlands and Sweden aren't as generic and are now worth taking.
CONS:
I don't know if anyone else has seen this, but there's a HUGE artillery bug. If you turn on schrapnel shot and aim as high as you can on the ground behind your opponent, you can still shower his infantry with little pieces of grape shot and still do, albeit light, damage. This is really annoying, and I wish CA would get rid of the damn thing in the first place or reduce its range even more.
Campaign map is still *farting noise* Diplomacy never works, and "sea invasions" happen on rare occassions. Still lots of buggy things too such as navies becoming trapped in the straights of Gibralter.
Spam armies. This is the essence of TW MP sometimes, spamming armies are still relatively possible, and they rarely work. I wish we had the old MTW1 system in which the more of the same unit you took, the more expensive each unit became. Furguson rifle and Heavy cav spam gets soooo anoying. (Even if it is a rare occurance)
I'm glad CA made units more vulnurable to routing, but elite units shouldn't rout as fast.
Despite lag being alot better now, the amount of desyncs and disconnects seemed to have trippled. WTH...
The Finland map is getting dull and CA has REALLY lacked in the maps department. And no, I'm not using the Lordz pack, so save your breath.
Over all I'm glad that CA decided to listen to it's fan base and actually act upon their opinions. (well most of them at least..) They still have a ways to go (as seen above) but this patch is certainly in the right direction.