I own the Dragonstar Starfarer's Handbook. Dragonstar does seem like it will be a nice combination of traditional D&D and Stars Wars-style space opera. The handbook itself is almost exclusively rules with only a few hints of the setting spread throughout the text. The setting, along with Spellware, will be in an upcoming book, the Galaxy Guide.
The Starfarer's Handbook itself is fairly attractive with a few full-color pages (which are excellent) and some BW art throughout the rest of the book. The BW art is loved by some and hated by others. The book *does* seem a bit slim for the price, and it probably could have been more effectively combined with the Galaxy Guide and sold as one volume.
The content of the SHB is a bit dry (devoid of setting, as I said), but there is some interesting stuff in there. Dragonstar introduces two new core classes, new feats (of course), a few new skills, new uses for old skills, new playable races including Soulmechs - sentient robots with human(oid) souls, and some minor tweaks to existing core classes.
Combat in Dragonstar *seems* to be on the deadly side, and I know a few people out there are not starting at 1st level due to the lethality of ranged combat. Damage for energy weapons may seem high, but you need to take into account the effects of magic on energy weapons AND the increased power of armor in DS. The consensus on vehicle rules is that they are pretty slick.
Besides being maybe a bit too slim for the price, my only major problem with the Starfarer's Handbook is the lack of information on Spellware. Spellware, which is magical body enhancements, are a big part of a Dragonstar character. Spellware can provide PC's with enhancements like Darkvision, Dermal Armor, Claws, and the all-important Trauma Symbiote. The Symbiote, an organism implanted in the host's body which soaks up damage, is almost a must for any "front-line" fighter types.
In general I would say that I'm pretty pleased with what I've seen of Dragonstar so far and I'm really looking forward to playing it. It is, however, something like half a game right now. Once the Galaxy Guide is available, we will be able to see how the game as a whole will pan out.