It's an interesting distillation of the basic FASERIP system, but it suffers a bit from it's generic nature. My biggest problem is chargen. Using the table as written for rolling Traits and power levels, you would at best wind up with a "mid-card" character. Further, it really doesn't solve the "top end" problem that MSH had (the "how to model Superman at full power" question.
I'm glad someone is putting a FASERIP-type system back out there for people to play with, but it could stand some serious improvements.
[3 of 5 Stars!]