Having now played the mod, I can honestly say
FUCKING AWESOME. I jizzed my pants the first time i was in a brawl with players using tanks, aircraft (VTOL's, fighters, plus a bomber), mechs, and Battle Armored infantry (most of which had ejected before their mech blew, and were now fighting around the feet of the mechs)
I also grinned the first time I blew apart an infantry with a Clan Gauss Rifle. Sucked to be him, heh.
The game is unrefined at this point, a rough beta, BUT IT IS PLAYABLE! It has a fully working multiplayer, with (for me at least) few crashes, although some wierd glitching does occur. Nothing game breaking yet so far though.
The game..... FEELS like Mechwarrior. Captures the spirit almost better than the actual I-IV games did.
Freaking EPIC!