Ok, most straightforward praise I have for this is that I liked it enough that I subsequently bought the P.O.D. version.
I've been really happy with this for a number of reasons. First, this is a nice, solid basis for a slice of urban fantasy I'm really fond of - the model of their being a world of the supernatural but it simply not mattering to most people unless you end up stepping in it somehow (think Neverwhere or Midnight Nation). Since "stepping in it" in this case means losing your soul, it generally provides a very strong sense of impetus from the get go.
That said, the game s somewhat more deeply layered tan I expected. Certainly, the initial goal will usually be to get your soul back, but that's an attainable goal, and the game does not leave you hanging at that point. Beyond play as a Dead Inside is play as a Sensitive, a Magi and potentially beyond. There is no shortage of scope.
There are also numerous subtle elements that really shine. Sure, your characters are motivated to do good deeds and generally try to get their souls back, but there are interesting ripples from this. Most notably, almost NPC you encounter is dealing with the same realities of the soul, and this provides a solid index for people interacting with NPCs. Unless the NPC has a specific reason to act against the PC, they'll generally be nice (or at least polite) because they've got their own souls to look out for.
The GMs advice may be the best I've seen in any printed product for one simple reason - before it gets onto things like how to run the game, design adventures and the like, it takes some time to discuss the most important element of gaming, the fact that it takes real people getting together. In comparison to the sheer volume of academic-sounding nonsense that fills a lot of comparable chapters, this is a breath of fresh air.
The setting itself is quite vibrant. Focus is mostly given to the spirit world, a place full of spirits, jungian archetypes, magi, zombis, ghosts, food vendors and almost anything else. It's a dreamscape, and while it has some expected tropes (Shifting city streets, abstract goods and services), it's got enough clever elements and questions to remain interesting.
The system is simple, but solid, reminiscent of Over the Edge or Fudge in certain elements (And CORPs, in fact, in that they share a similar sense of when to roll the dice). it does include a Virtue and Vice system, which provides a nice yardstick for GMs to know what kind of ethical considerations to throw at players. Powers are very elegantly handled, with my favorite element being that learning new powers is generally as easy as seeing them used - it's nicely egalitarian.
Now, all that said, there are a few warts. While the book is solid all the way through, the writing is strongest near the very beginning, and some of the later material suffers in comparison to itself. The layout, while excellent and clean for printing, is not entirely screen-friendly.
The biggest issue is one that is likely more a matter of taste. The emphasis of play is on the Spirit World, with the players facing ethical challenges, getting guidance and interference from the Imagos (Their personal Jungian Archetypes, who muck about with the PC's life, mostly to their benefit) as well as the other participants of the Spirit World. It is easier to regain your soul in the Spirit World, so there is little incentive to leave it. And that's where the split comes up.
A game set in the Spirit World is going to be primarily about the exploration of the character, with the color and fantastic elements providing tools to further that exploration. And that's cool. However, the premise is so solid and so compelling that a player may be more interested in exploring the world - in seeing what sort of things they can do and find in the real world. The book does not provide a lot of support for that sort of play, though it also puts up no barriers to GMs wishing to explore that aspect of it. Thankfully, a supplement on the real world is in the works, and I for one can hardly wait.
All in all, this is a purchase I was more than glad to make. Not only is it solid in its own right, it's full of ideas i could easily pull into any contemporary fantasy/horror game, like Unknown Armies, Over the Edge, Witchcraft or nearly anything in the World of Darkness.