So, I'm not very far in the game (only played about 10-12 hours) but so far I'm having fun.
Thoughts so far:
Some things are more convenient and this is good because all they did was reduce tedium and not dumb-down; use of many souls at once, no need to reload for crow item drops, item box right out the gate.
Some things are more convenient but at the cost of dumbing-down/reducing planning; many quick-slots, 4 rings, 3 weapons per arm;, insta-teleportation.
Some things are weird and make no sense; cannot level at bonfire.
The areas: I like that outdoor areas actually feel like outdoor areas. Darkroot garden/basin all felt like you were in a big cave, partly because it was dark but partly because it just felt weird. There are tons of cramped areas but there are also large spaces nearby, so if you are stick in a tunnel you can try to reclaim previous territory to avoid breaking your weapon. Also, I like that weapon durability matters and doing dumb shit like swinging through walls is a bad idea.
From still has their tight-rope fetish where multiple 'mandatory' routes are basically a 2 foot wide ledge that you can die if you try to turn to the left. Lots of "haha, gotcha" moments which I am OK with but can see how others get tired of.
I have no idea who/what/why anything is happening. In DS 1 I felt like I understood what was going on more where-as in DS 2 I am just exploring seemingly random areas. So far the only real "connection" of in-game content I've seen is the Rotten being upset about something and making statues. Otherwise I guess there used to be giants? and now there are not? I get that these games have minimalist story-telling but I feel like I'm getting no story-telling at all. The Emerald Herald is p stupid and I don't like her or her use unless it has some OMFG story element, but even then I don't like that she's mandatory for leveling, estus upgrades, or whatever else.
If you are near a bonfire then you can warp back to it so why the fuck not just let us upgrade estus at a bonfire (or level up)?
Anyway, more rambling thoughts later.
Oh, I do like the pacing of combat. It feels slower and heavier to me and I appreciate that more. Also, it obviously runs wayyy better than the travesty that was DS1.
On the Gutters: blight-town legitimately terrified me, the gutters was an easy-mode version of blight town. I think that From needs to stop recycling their ideas on some of these aspects. We get it, Valley of Defilement -> Blightown -> The Gutters but c'moonnn try to come up with something else. Especially since this one was... meh.
Also, do you ever actually NEED a torch? I have yet to light one for actual vision purposes and I am doing just fine. Was the darkness nerfed in a patch or something? I could have sworn a big selling point was that you will need a torch or something?
Or is there some Tomb of Giants like area yet to come? (also, lol at the tomb with a giant skeleton in the grave of saints).