Judging from what I've seen so far there are mainly a couple of things that I find less than "excellent!!!" or "awesome!!!"
I agree with the point raised by many about the fonts. They are too generic and detract a little from the overall feel of the setting. I mean a game is all about immersion, and Elemental scores very nice points in that department by having unique graphics that help sucking you away (even from the usual feel of other games!!!). It's really only the fonts that remind you you're still looking at a computer screen in Anno Domini 2010.
A slightly deeper issue is with the contents themselves of the text. There's nothing specifically wrong with them, it's just that they seem a bit simplistic or generic. Phrases like "this breakthrough allows you to..." are not so evocative and a bit too tied to the mechanics of the game. Or terms like Diplomatic Capital... the concept is very nice, but maybe we should talk about "Majesty" or "Prestige", or something... would we really offer an "enumerable" product like that during a "transaction" with a live person?
(I don't mean to invalidate the mechanic, I only think the wording could be improved).
I'll stress it again, these are obviously MINOR issues... still I hope they can be addressed in the future, as, as I think many will agree, it's the little details that can elevate a game to the mythical "timeless classic" status. I mean look at what quotes and various flavour excerpts did for Alpha Centauri (not that those helped too much with the sales, apparently, though
)