After reading Akrasia's review of C&C on RPGnet, I am strongly thinking about buying the game. Having just spent the past two hours reading all the posts in this thread, I decided to throw in my two cents worth.
First, I generally love having a lot of options to customize my characters. However, many people I play with don't. To them skills and feats are a hassle. They'd rather just "play a barbarian" than worry about which skills and feats they have to take. And to be honest, sometimes I'm the same way.
Second, having a lot of options allows the experienced gamers to become very good at optimizing their characters. This is not bad, even good, if all the players are experienced, but when you mix in newer players, it can be a recipe for disaster as the old-timers dominate the game, while the newbies can feel extremely frustrated. It also can be frustrating if you mix pure powergamers in with roleplayers as the roleplayers pick the skills and feats which best suit their conceptions, while the powergamers pick those which allow him to be more effective, thus the powergamers often dominate.
Third, many gamers like to individualize their characters by choosing appropriate names, appearances, and personalities which give color to their individual characters. Back in AD&D1 days this was quite common.
I like 3.x, don't get me wrong. But there are things I truly dislike about the game. Characters gain experience too fast for my taste, the system of CR's encourages DM's to hand out magic items at a standard rate, and the kenderized halflings make me want to throw up.
3.x did a great thing by getting a lot of former gamers back into gaming and bringing in a lot of new blood. But it does not suit everybody's style. Thus we have things like Conan, Blue Rose, and Castles and Crusades. Having options such as those are options I REALLY like.