Well, even though I vowed to wait for the 1.3 at least, I went and picked it up yesterday. I built this new rig just to be able to handle this game, and VISUALLY I'm not disappointed. (red fin hi res looks spectacular on my 30") There is lots to be fixed in this sim, and I sure don't think just one more patch will do it all unless its a doozy. My hat is tipped to all the modders around here for at least making this playable and even enjoyable within its limitations!
Bottom line, go pick it up. It's only going to get better!