This is, for the most part, the first time that I have liked the basic concept behind the Favored Soul in any edition since it does not change character into an angelic being with wings. However, I am not fond of Divine Magic giving free choice of cleric spells. If I run 5e, I will have to go through and tailor choices by deity domain or the type of being with the addition of spells communing with the parental being.
On the other hand, I think I would prefer the concept of divine blood watched over by the gods presented as a demi-god race: Hercules (demi-god fighter), Achilles (demi-god fighter), Perseus (demi-god fighter), Circe (demi-god sorcerer(ess))
As for the other bloodlines, I am not fond of them.