THE BAD:
1: Limited skill availability during combat.
2: The gear curve is horrible.
3: Weak storyline.
4: MANDATORY internet connection at all times. There is no single player.
5: Doesn't feel as immense as the previous two.
6: Minimal level randomization compared to its predecessors.

SUMMARY:
Let me just say first of all that limited skill availability isn't a bad thing. I guess. It makes it challenging.
However, you're basically stuck with whatever 6 skills (including your basic attack skill) you designate while you're in combat, even when you have a repertoire of over 50 different skills and modifications of skills ...