Well...
I preface this by saying that Rome: Total War was a game I completed several times over with loads of factions. I loved the first game.
I also played Empire Total War a bloody bunch of times, according to Steam I've shoved in over 100 hours of that. Not as much as Rome, but still.
So, take my view with the massive amount of bias that I have.
I pre-ordered Rome 2: Total War for £40. Looking back on it, I would have paid... £15, maximum. I have played maybe 10 hours of it. Then I uninstalled it and played Empire Total War again.
I REALLY HATE THE PHRASE "Streamlined for the masses" or "Dumbed down" and I rarely use the phrase as streamlining is usually a way of saying "Made it understandable without having to consult a Wiki", but my god...
They GUTTED Rome Total War. They cut out the fat, meat and flesh and left with with a diamond covered skeleton that looked pretty but was otherwise NOT FUN. And it's hard to make a game set in my second favourite period of history NOT FUN about using massive armies NOT FUN, but they did it.
They severely cut down on the town management to the point of it meaning ultimately nothing, other than capture all the areas of it's basically useless to you.
They have destroyed the ability to effectively micro-manage your army by forcing you to use only 4 or 5 armies at a time in these massive groups, making waging a good defence nearly impossible from multiple attackers, and the "Peasants who happen to be in town" is such a poor replacement that it's nearly not worth it.
Diplomacy remained as screwy as ever, with AI's making non-nonsensical choices and declaring war on you for no reason even if you had been allies, and they could never understand a good trade.
AI in combat was strange as all hell.
They still haven't figured out ship battles, and while the combine ships with land battles was a good idea and decently executed, doing so would drag the frame rate into the guttle and make a ten minute battle drag to an hour, despite having a very good computer which can handle massive battles on just land.
They removed a lot of the background stuff, like multiple faction, the ability to choose an heir and so on. While it's loads of little things, it added up to create a game which was a prettier, but pale shadow of itself.
It was a game which I was looking forward like no one's business, and I played it and... it sucked. It sucked hard and it's cut a lot of enthusiasm out of the next game for me. It was probably the first game I ever pre-ordered and was burnt hard by, and I think I have only pre-ordered 4 games in my life which have disappointed me.
But if this is the direction they are moving with the Total War series... Well, I shall be sad indeed.