Been playing at my brother house and didnt seem to have any of the problems you mention. Yes some fights were bad early on but that was because I didnt initially understand the armor and shield mechanic. The second I understood that the game was fine. I did have difficulty with a few battles, like the one with the Fort Joy leader (the guy making monks and has 2 elemental magisters with him), but only because I didnt have enough damage output to knock down his defenses quickly enough. The outdoor fight with the bunch of magisters was also tough but manageable (with the help of the paladin). This problem went away when I decided to move forward and leave the castle. I had already found a way out long prior but decided to hang out a bit longer... that was a big mistake because the minute you get out, they give you that insane crossbow which has crazy damage output. Even without a single point into hunter, that thing was nuts in the hands of anyone that can use it.
There are some things I dont like about the game like not passing skill checks early on even though I was heavily invested in certain stats, and how they didnt expand much on talents and skills, or the dumbing down of crafting (no longer requires planning or skills), etc. The game itself is enjoyable so far though I have not gone far yet (just cleared fort job so far and hit level 6 outside in the marsh area.
I did finally realize why there was so much elf hate. Elves are so good that they might as well be broken. That extra AP early in a fight is huge not just for damage but also positioning. Its a hell of a lot more valuable than other racials so far. Hopefully the AP becomes less of any issue later.