Yes, in my opinion, it is overhyped.
I played it around a friends, and it just seemed to ooze out of the screen 'Crap'.
Boring, spammy combat, uninteresting areas (Like the last game, the areas seemed pointless and just as bridges between other areas, with nothing worth exploring in them).
It also seemed like it can't make it's bloody mind up whether it wants to be a funny, lighthearted game (Dressing as a chicken, Simon Pegg, Stephen Fry, and John Cleese doing humourous voiec acting.) and a serious, revolutionary-themed game (Story, setting, etc.).
Molyneux also seems to have given up on his idea that 'Features does not equal good game', I heard him say that in an interview and I agree, Fable 2's features detracted from the overall quality because they just cluttered it unneseccarily.
Has Peter learnt his lesson? Even after explaining that he was aware of the problem, and wanted to fix it?
No.
He's just replaced it with different features.
The Expression wheel remains, stupidly, and they've fucked up menus. I loved the menus. Simple, and easy to use.
I don't want to be pulled into an entirely seperate play area just to change weapons, thanks...
[/rant]