My first impression was it's more sims 2 than 3 art style wise, then I looked at it again and I can actually see a blend of both, Sophia is much more sims 2 in her features whereas Ollie looked more sims 3, I think in some ways the new CAS will give the best of both worlds when creating sims and a lot more variety.
At the moment I'm vaguely optimistic, it made me think 'this is the sims' although it looks a bit different style wise it has the sims charm.
The only thing that still bothers me slightly is the textures, there was very little pattern or depth going on but it's still a way off yet so they might improve, or possibly less graphic intensive textures will mean a smoother running game.
Looking forward to Thursday and the live broadcast, this was good but it's not like seeing the real thing in action.
I never played freeplay but I see that mentioned a lot, I've seen a few pictures so I can see why people make the comparison, I just hope they are as customisable as they currently are with create a style for hair, eyes, clothing etc, that and the open world have to be my two favourite things about sims 3.