My nearest GW (which isn't really local, so I don't get down much) is, according to friends who frequent it, very much AoS centric at the moment. The veterans nights are nearly all AoS (it's the in thing I guess) and they appear to have started a campaign using 'x' warscrolls as well as gentlemanly agreements over whether it seems an even contest. Apparently it's going very well. It's more of a fluff thing, so I imagine in a proper tournament it would be bloody and filled with furious nerd rage.
I personally managed a pretty balanced game using model prices (£60 a side) for a laugh. In my opinion, the armies in the game seem to be much closer than before in terms of quality or lack of quality, due to the weapon used being one of the main factors in whether they do damage. Even the lowliest goblin in a swarm can down a huge giant, which works ok.
So...from what I have seen it seems fine for normal play / casual play. Couldn't comment on anything else as I don't really play competitively, it isn't the scene for me.