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So sorry and forgot to give credit to (Hmm Maybe) as he started this list. I was just reposting it here to continue to spread the truth about the state of the game. A shame he got banned also on the forums for posting a factual list....
Missing content from DF1
No Dungeons in game. (Not including starter dungeons)
Chaos cities removed.
Many NPC cities removed.
Chat system is abysmal. The old chat system was vastly superior.
Can no longer link items in chat.
No more coloured chat.
Can no longer resend messages or view sent message history.
No more trade channel.
Sea towers removed.
Almost all boats removed.
Lack of diverse power attacks from different weapons.
Currently no way to create cannons.
No more cheese (<3 Arcturus)
Battlehorns, Bluetails and Horses removed.
Shulgan Drake removed. (<3 BabyBear)
Many monster types has been removed. The world is now a much less diverse place.
No Item Counter.
Bringing bread back to vendors and simple fish recipes would help new players and vets have access to basic nourishment.
Party system is worse. Now only leaders can invite, Though it has improved in a way as leaders can now kick.
Useful melee abilities which people actually used were removed. (Knockback, Whirlwind)
No more double jump. (Brawler only with cast time implementation is clunky and unusable for most situations)
No internal clan ranks.
No clan log.
No clan bank log.
All quests removed. (these weren't THAT bad and i did every single alfar quest in DF1)
No ingame lore.
No clan political overview. (can't see current allies/enemies in clan tab)
No way to see peoples clan ranks in other clans, before you could find someone from an appropriate rank to contact.
Pack mule and Tireless removed. (<3 Caldrin)
No more epic gank animations for different weapons (<3 blob)
No more Surtstone. (<3 Venny)
No more /stuck command.
No more trade routes. (<3 Deadlyhit)
No Enchanting. (<3 Telc)
No Transmutes. (<3 Telc)
No more jewelcrafting. (<3 Deadlyhit)
No more Web Journal. (<3 BabyBear)
Missing promised content and fixes
Load lag is still in game. (Tested and confirmed by multiple people)
Added multicore support yet the performance is worse than DF1. (Could be debug mode)
No new dynamic Dungeons in game.
Land towers not implemented.
The mounts in game handle exactly the same as each other and the differences are purely cosmetic. No different mount stats.
Duping not rampant but seems to happen most patches
Yssam dinosaur not implemented.
No demi gods in game.
Feature to make gearbags has not implemented.
Weather effects not implemented (They were client side only in DF1 anyway, so no real loss)
Still no meaningful improvement to boats with the weather system. (This was apparently disabled just before DF1 launch and just needed finishing touches)
DF 2 was said to have multiple types of ranged weapons with different characteristics(Hinted at Longbows/Shortbows/Crossbows). There is only a default bow.
No Armor Dyes.
GUI is still extremely CPU intensive.
Monster AI unchanged.
Only SOME of the new monsters from the concept art are in the game.
No Market/Auction house. (<3 Nat daprat)
No resource monoliths.
Wolf walls can easily be jumped over. Not really meaningful.
The new racial models which we have been shown to us from 2010 have been scrapped. These represented numerous blog updates spaced weeks if not months apart with little other meaningful updates during this time.
4/6 Starter Cities in game. (<3 mercnet)
Only 8/16 roles have been implemented.
Sprinting and turning with the mouse is not affected by momentum. The same problems exist where simply sprinting forwards while moving your mouse side to side makes you a ridiculously hard target.
Massive safe zones which are easily abuse-able. A whole system needs to be put in place to stop this abuse which is already happening on border lines.
PVE content is unbalanced and unengaging with little variety between spawns.
No proper testing on player holdings.
No proper testing on villages.
Completely untested siege system (Internal testing isn't sufficient for something involving so many players).
Seemingly no reason for the name. "Unholy Wars"
Many monsters still immune to certain damage types making them unkillable for certain classes.
New racial models in game, but still statues and monsters use old models. Worldbuilding rework for these areas and monsters need replacing.
Unarmed mastery in game but not actually usable (<3 Nat Kro)
General gripes and major problems with the game
GUI is completely unfit for purpose and isn't at all intuitive.
Lack of meaningful GUI customization.
Forced to use different classes and play-styles to level different base stats.
Slower more unrewarding combat system. (<3 pawN isDecent)
Massive class unbalance.
None of the currently implemented class abilities are anywhere near done and all need major tweaking/overhauls.
Bloodwalls viable again.
Much smaller world.
No way to skip tutorial.
Sluggish character movement.
Feel of "detachment" from characters due to ungainly movement system and lack of responsiveness.
Chaos chest house lottery still in place.
It's clear that with stat grinds and different ranks of gear there will be a even greater gap between vets and new players.
Random crits now in game.
Swim speed slowed while casting, making for easy water get aways. Unable to cast many abilities under or in water.
Even less reason for players to use boats with the absence of sea towers, low availability of black powder, lack of sea creatures.
Armor Racks / Weapon Racks are being farmed by afk players for high ranking gear in safezones.
Polearm knockback still in game.
Blackpowder requires obscene amount of resources to craft (0.5 Gold, 1 Sulfur, 0.5 Fossils per Blackpowder).
Battlespikes are extremely expensive to craft.
Without significant changes, Player cities will prove to be untakable impenetrable fortresses come release.
No tools to get over walls on raids. Really needs craftable ladders or something.
Potions are largely unchanged and still quite underwhelming.
Many player holdings terrain has remained unchanged from the DF1, yet the cities placed their have changed. Many of the unique holdings have lost the special things about them. (Aradoth, Apautan, Sunthrone, Longmarch, etc)
Crafting fails still in the game.
The new Bank and Bag system is terrible and are completely unfit for purpose.
Stat requirements on gear.
Food system is abysmal now. (Raw ingredients give nourishment for 0.1second). No access to proper nourishment.
Noobie mob spawns are almost unsoloable due to instant spawn rates. It's impossible to lock down a spawn without getting overwhelmed.
Many monsters are completely immune to arrows or skirmisher special abilities.
DF2 is more demanding on our computers than DF1. It will be even less playable during sieges.
Holding F interface for mounts/bank is vastly inferior to 2 separate binds and is a poor use of a radial system.
No more action bars.
Radial Menu is a pile of shit, Full Stop. (<3 Venny Rawr)
The 2 radial menus with separate activation keys don't work. They are clunky and unintuitive and don't allow players to properly track cooldowns. A simple hotbar with 1 activation key was much better.
Stat management with transfers doesn't work at all and you currently run out of stats extremely fast.
The new melee abilities are more like AoE Spells and seem to not involve melee weapons at all.
Convoluted system to see general skill levels.
Lack of video option settings to help improve frame rate, specifically changing how much grass is rendered. (<3 Wingman92)
GUI is riddled with bugs.
Some abilities and skills level extremely slowly compared to others.
When starting to type in chat due to interface lag the first few characters are normally cut and need to be retyped. Also causes many miss sent messages into Global. (Default chat channel)
Can no longer type "<" in chat meaning no more hearts in pms "<3". Also causes the next line to appear on the end of the current line.
Can't copy and paste from chat.
Can no longer pick up player flags.
Safezones in the middle of oceans.
Food no longer increases stamina regen.
Can use dash/stampede to go up verticle walls.
Multiple item dupes still in game.
Fraps bug still in game. (Desync from world)
Pressing F5 for a screenshot causes massive desync and lags out your hitbox for 10seconds. Can also be used to jump extremely high.
Monsters can still be easily exploited and easily get stuck on terrain.
Treasure maps not working. (<3 DAA KAPUTTMACHA)
Safezones in the middle of the ocean due to starter zone being under the ocean.
Allies cannot bind to clan stone, even if names are added individually. (<3 Nobody Special)
Level 25 Tailoring items are completely missing. (<3 Nobody Special)
Clan alliance chat not working. (<3 Daa Kuputtmacha)
While encumbered, you move faster backward. (<3 C^ae^R)
HTML tags in the chat, allows people to make client unstable for other players with chat open. (<3 C^ae^R)
New character models are using old racial hitboxes (<3 Bear Virtus)
Gates close by them selves after a short time (<3 Smitling)
Player city guard towers shoot allies. (<3 BabyBear)
Launch ship cannon can't be rotated properly.