However it seems that several changes in pathfinder arent very "traditional" in that all the races get an extra +2 to a stat now, classes get a TON more abilities and all sorts of other stuff has been changed dramatically.
It's pretty subjective, yeah. I like most of the changes, personally, and I lean towards a more 'old school' approach as well. For what it's worth.
1. people who have been playing since 2nd edition, what do you think of pathfinder? Does it feel like classic D&D?
I like it, but no, it doesn't really feel *that* much like classic D&D, or at least no more than 3e does.
Except I would say the team involved might have a keener appreciation for such, and an inclination to exercise it. Or, perhaps, greater freedom to follow that inclination. . . See Golarion, for instance.
2. How does Item creation work, I LOVE that you do not loose XP now, but what DO you do?
Can't recall. I am one of those (seemingly *very* rare) odd ducks that happens to
like XP costs for magic item creation. It just works, thematically and so on. For me. YMDV, evidently.
3. I am not so big on balancing the rules as I am the flavor of the game and the RP being a good simulation of real life + fantasy. Does the changes to the base classes that were made to make them less weak take away from the realism?
No. Besides, a +2 across the board doesn't appeal to you? Remove it. Done.
4. How hard is it to use CR on 3.5 monsters with pathfinder. I notice that they do not use CR any more and I am a DM 1st and a player second so if this change is big and for the better I will be excited.
There's a conversion guide. What there is of it is pretty easy to use. Otherwise, you can basically run stuff as is, or convert on the fly with minimal fuss.
Overall, I'd give the game a positive rating. Might not be my absolute favourite RPG nowadays, but it's a good one, that seems to be doing very nicely for itself too.