My commentary on what the OP said ...
The Armor system is a mixed bag, though the scaling is the biggest issue. I've been playing with the reduced bloat mod and armor feels a lot less frustrating.
The attribute system ... I will agree that they really made the stats boring. As to how to fix it, that's a big amount of debate.
The memory system isn't bad in and of itself. Many games only give you a limited number of "slots" for skills, which encourages you to think about which skills you want to actively use. Perhaps it could stand for some tweaks and adjustments, but that's ANY system.
The AP limit is a mixed bag of good and bad at the same time. Having a limited pool of points means you have to think about your actions and plan things out. I don't see this as a bad thing at all.
The round robin for initiative ... that I will agree was poorly thought out.
AI always cheats. Always. In every game. They always seem to know when one of your characters is weak. The AI in this game is actually better than AI I've seen in other games. I think the issue is more that they made Loremaster too powerful for inspecting enemies. If you want to suss out an enemy's weakness, it should be a skill that takes TIME in combat.
There being no Physical Resistance while there is Magic Resist is actually quite normal for games. Usually because Magic attacks are a lot stronger and you're encouraged to take advantage of low resistances. So its a mixed bag of good and bad at the same time.
I can't comment on money making or Source as I've only played the early part of the game, where I expect that money is going to be brutally hard to get hold of. And since I've only played the early part, I haven't gained access to source abilities yet. I've just been busy with other games and the like.
Overall, I've been enjoying the game. It's not horrible or broken. The areas where there ARE issues, there are mods or the devs have actually been working on fixing them. Some of the things modded should have been fixed before launch, but that's water under the bridge.