I figured I'd throw a few more cents in...
DA:O, to me, was basicly a streamlined Baldur's Gate. The gameplay was the same, but they cut out a lot of the useless aspects of the Infinity Engine era games.
For example, having a cleric around in BG1&2 didn't really bring much to the table. Most people just had him/her standing out of harm's way, throwing buffs, debuffs, heals and resurrections. The healer didn't bring much in the way of tactics into the gameplay, it was basicly a healing dispenser that needed to be managed. Getting rid of a pure healer class in DA:O was a good move, in my opinion. It streamlined gameplay in a way that kept the tactical elements intact, but removed the micromanagement and extra hassle.
The turn-based combat seen in Infinity games was a relic from D&D rules. If you have the option of tailoring a combat system to suit your real-time game, only a madman would try to rig a turn-based D&D system in it. They made their own combat system in DA:O, and even though it needed a bit of fine-tuning, it didn't hamper the tactical gameplay at all, and made the combat feel a lot more responsive than it was in BG1&2.
But I wasn't happy about all the streamlining made in DA:O. The numbers side of the combat system wasn't very informative, and many people (including me) would've preferred a more transparent approach, where the numbers and formulas would've been visible for players. DA:O is pretty vague when it comes to calculating armor, base attack damage or spell damage.
The decisions BioWare made for DA2, are pretty much the opposite of what I would've made. The number side is more vague than it was in DA:O, not telling the player much beyond the very basics of each skill. The game's combat was also much less tactical, and the inventory and itemization people like me enjoy, had been cut down to a minimum. I played through the game once, and it had very little to do with tactics, and very much to do with Hawke waving a big axe, annihilating everyone within five meters.
Basicly the stuff that made BG1&2, and DA:O so great for me was gone. BioWare took the game to a place where I could not follow, I wasn't their target demographic anymore. Of course there's nothing wrong with me not being the target audience, it'd be ridiculous for me to demand that they make a game especially for me, but it doesn't change the fact that DA2 was a disappointment for me.
Also: If you're making the game a hack and slash, why the target rings and clunky UI? I'd make the hacking and slashing fun, like Dynasty Warrior or God of War. If it's so action paced, why not let me go all-out with my 2hander, why the MMO controls? It's hardly the best control scheme for an action oriented game.
rant over, time to sober up.