Gotta say, I just got it the other day, and I found the errata (in addition to the added amendments here online) pretty complete. If you run big naval battles, you might be disappointed (as the rules aren't revised, but omitted), and Alchemy is probably best left to GM's and NPC's...but I don't use that stuff too much as a GM or as a player (and Alchemy is easiest to cook up as a GM anyway, the rules just offer good guidelines). If you had your heart set on creating an Alchemist however, I can see how you might be let down here.
The best stuff from a PC's perspective are the weapons, armor and modifications (which to me as a GM are a great substitute for Magical weapons- it's no longer necessary for everyone to have a magic sword, but you can always just buy a very good one- I like Magical items being difficult to obtain, instead of commonplace. If the whole party has magical weapons, are they really so magical? Now the difficulty is finding a good smith, or a town that trades in the materials that make for great weaponry- like steel. People might kill for that kind of merchantile pipeline/access/domination...).
I like that the magical weapons are not free for the user to make, but involve (for the most part without meta-gaming and tapping small animals for POW) some sacrifice on the part of the Magic Weapon's creator. The ways of getting around the MP rule are even kind of slimy- so Sorcerers that
do manipulate to get around the sacrifice
are kind of slimy, and aspect that I like in my games when it comes to Sorcerers. The Wizards got a lot of powerful magical weapons? He's probably a slime ball. So cliche! I love it.
And from a GM's perspective, the reference charts in the back of A&E are just about worth the price of the book (notice, I said almost...). I didn't think it was
that bad (after reading these boards I was a bit concerned), but then, I already had the errata available to me when I got the book. I can imagine it being pretty frustrating to have this book of good ideas in front of you and not being able to use any of it, because you're not sure what's accurate and what's not.
But
I like it.
And yes, we do update them.
