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The first metacritic ratings are up, based on 4 critical reviews. TERA is averaging 8.3/10.
I'd give it 9/10 for a newly released MMO (although it had the advantage of a year out in Korea). Only reason not a 10/10 is because there's no battlegrounds and more organized pvp.
I agree with the snippet from the guy from GamingXP:
TERA may not offer enough to dethrone World of Warcraft, but it is a wonderful game with a thrilling story and loads of action. Above all else the combat mechanics are a great innovation