I've read through it - not exhaustively, but relatively well - and my initial reaction is "decent." I did prefer the first netbook, but I think that's probably because it was more grounded in the WoT setting, if that makes sense. The first netbook covered a lot of things that the published book left out. Rather large things. Not surprisingly, my favorite part of
this netbook is the rules for breaking a shield - another big book bit, worked out mechanically.
That said, I do like this one, quite a bit. I'm not much of a fan of the first chapter, unfortunately - for a number of reasons. Neither of the backgrounds seemed particularly useful, though there's nothing
wrong with them. The hero templates were fine, but I've thought them all unneccessary from the get go. I understand why they were included in the core book (as they expected many first time gamers to pick it up) but here? Meh. The Seaman is my biggest gripe - I don't see any need for the class, as is. The average (hero classed) Atha'an Miere can be more than adequately represented, I think, by wanderers. As a class, I don't see much point to having the seaman
be a seaman - at it's core, it's a lightly-armored combatant, with a large number of skills. Similar to the 3.0 ranger, actually - with some ship-based abilities instead of favored enemies. Nothing spectacular. The number of prestige classes, I'm not going to touch - I'm known for frowning on prestige classes, because I'm not a fan of how prevalent they've become (I prefer to represent many things through multiclassing.) Of those I looked at, most seem well done, though. As for the templates - I
liked the corrupted template, but not the
damane. I consider it more of a RP issue than a mechanical one, but if the latter route is chosen, it works well. (One issue - I'd make the +2 bonus to the primary stat a named - morale, specifically - bonus.)
Of the rest of it, there's a lot of really good stuff. I like most of the new feats - though I haven't read them thoroughly enough to comment on balance. The same goes for the new weaves and wondrous items, though I like the flavour of all of them.

The NPCs were interesting, but nothing particularly special, to me anyway. That's more due to a combination of the geek inside saying "no, no, give them
these classes" and the fact that I'm not running a "modern" game with it - ours is set quite a ways back in WoT history.
As for the netbook itself, it's put together nicely - I didn't notice many spelling or grammar errors, which is nice. The formatting could use a little work, I'd note, but then, I'm a graphic design major, and notoriously picky.

Overall, nice work!