I don't get this graphics hate for TOR, it isn't THAT bad and it has its charm. It can't be TOO "realistic" because it already is quite demanding on the CPU and GPU side. The graphics are fine for an MMO (just look at WoW).
Anyway, I was able to test it as well - I went in expecting a horrible, unplayable mess with boring "go there and kill" quests, stiff animations and just a feeling of pointlessness from it all, soooo yeah, quite pessimistic expectations and, to be honest, I was surprised at how it isn't any of these things. Although I only managed to play the first 10 or so levels of the sith inquisitor I had a blast all the way through. The heroic quests are challenging enough so that you can't solo them (at least not as inquisitor/warrior), the only flashpoint I managed to do (Black Talon) wasn't quite revolutionary, but it was at least functional and that is all you can ask for, really. It was fun healing even though I only had 1 heal at the time, but that meant I could help with dps-ing and cc-ing enemies. Also, at the end of it I got a bunch of commendations which can be used to buy some of the drops from the instance which alleviates the need to constantly run the same instance for that single item and it never dropping. I felt it was a nice and convenient touch.
The animations are fluid and great. They weave into each other perfectly which I wasn't expecting. The global cooldown is short enough so you never stand there doing nothing and seeing your character stiff as a board, even when you use instant spells.
The quests are fun and imaginative enough to keep me interested at least until the second sith planet (Dromund Kaas, I think) and the voice acting is superb, which adds another layer of immersion to the whole thing. There are absolutely no "go there and kill" quests per se, but there are "bonus" quests which tell you to kill a specific number of creatures, but those aren't mandatory and from what I could gather they don't give much xp or rewards anyway.
I can't talk about pvp since I didn't go to a battleground, but from what I heard it's a broken mess. The melees are really disadvantaged against ranged opponents and the battlegrounds can get repetitive. They could probably fix pvp at some point, but look at WoW - 7 years of "balancing" and it's more broken then ever.
Crafting is, well, unfocused. It is way too slow, at least at the start, because you only have 1 companion and the process is frustratingly sluggish. The gathering of materials is 3 minutes and crafting an item is 1 minute and it adds up very quickly. Maybe it gets better if you have multiple companions, I don't know.
My only concern is end game. I read there are only 2 raids at max lvl and only a few battlegrounds which aren't enough, obviously. They will, of course, add more with patches, but that could take a while and some players might get bored before they manage to do it.
All in all, I enjoyed it. It isn't perfect, but who is? There are still some very minor bugs, but those will get resolved before launch. I will probably be getting it, because the stories alone are worth it. Yes, it would've worked better as KotOR 3, but we can't do anything now and EA is pulling the strings after all.