Game is still a blast for me. The legacy system made it so it its a big boon to have multiple 50s. At a casual rate of play that takes a while. Raids have gotten a lot better. PvP is only 4 battlegrounds but 2 of them are quite entertaining. Really boils down to just how much time you're playing. If you want to play one character 30+ hours/week yeah SWTOR isn't for you. If you want to screw around with buddies then avant guarde.
As for pass/fail I'd say the situation is mixed. Pretty sure EA got their money back but obviously SWTOR is on low-intensity development mode for the foreseeable future. Development is still faster than WoW so w/e.