Just finished. Spent half the day setting up FSO and the other half playing.
Let me just say that this is, by a wide margin, one of the best FS2 campaigns ever made. Almost everything, from the quality of the voice acting to the attention given to FreeSpace lore just screams effort, and that's what makes this a retail-level release. It completely decimates the original Silent Threat, and could easily be recognized as canon; it's that good. Excellent job; Goober and the rest of the team all deserve a pat on the back for all the hard work they put into this.
And it's free! Anywhere else, you could expect to pay a pretty penny for this kind of expansion/downloadable content, and that makes us all the more fortunate.
That being said, there are some hiccups; I ran into a few interesting problems while playing through, perhaps because I was playing on Very Easy. I'll provide a rundown of them later after I give things a closer look; it's very late right now and I'm afraid I wouldn't be very precise.