First impressions...yes.
Graphics- Amazing, I don't think this needs to be said, but rather assumed.
Sounds- Excellent selection and dramatic improvement over the original, especially with the cannon sounds. Its too common for modders and even professional game developers to neglect the sound design of their products.
Gameplay- Wasn't able to play much but my experience on Field was exactly like it was in stock Renegade. Except I didn't recall Nod steamrolling GDI like they did. But then again, I didn't play nearly enough Renegade when I could play it.
What I didn't like was the hud. You shouldn't need to look at the specific # of Hit-points you have remaining to determine your status, but rather a quick glance at the color of each meter.
Besides the expected beta release balance issues (like the uber shotty) and bugs, this is an amazing piece of work.