Just bumping this up since it's the biggest and most recent thread I could find on it.
This game is pretty damn fun, I've been playing it consistently for nearly 2 years. It's free to play now (you don't need a subscription, but leveling time increases considerably if you don't), but like other Korean MMO's it tends to depend a lot on micromarketing (buying individual items in-game with money to improve your performance). It doesn't have submarines or anything like that, plus torpedoes do ridiculously little damage (still more than anything else in the game, but it will sometimes take over 20 torpedoes to sink a battleship), but if you like grand engagements between capital ships, this game can be pretty fun to even just watch.
It just had a massive balancing patch applied to it last month or so, which IMO really improved the gameplay, but there's still a lot of bugs and imbalances that are still getting fixed. For now I really wouldn't advise buying anything from it unless you're willing to put some serious dedication into it, but if you really like it, by all means buy a subscription.
(BTW, if you do decide to try it out and want to put me down as a referrer, my ID over there is lordkelvin, same as here but without the space)
-e- Oh, before I forget, if you don't want to mess up on something that might affect you later in the game, go to
www.nf-guides.com and read up there before going too far. It has a lot of really good explanations about the game, and certainly beats the default game manual, which is insanely outdated.