I've been lurking here since the game released and been very much on the fence about whether to purchase it, warts and all, as I've enjoyed Sins of a Solar Empire and know Stardock has/had a good reputation as a champion for their customers.
I picked up the Elemental novel last week while on vacation and have finished it. It's a quality story... although [MILD SPOILER!] the book ends with many subplots unfinished and mysteries unrevealed. It pretty much screams out for a sequel that I have to wonder if we'll ever see.
After (probably too many) hours of reading through threads and watching videos of the game on YouTube, it was THIS thread here that convinced me to not purchase Elemental (yet).
I had assumed that battles scaled up as the game progressed, both in units-on-screen and in complexity of tactics, both those exhibited by the AI and required from the player to ensure victory. From what I'm reading here, that's not currently the case. If so, I unfortunately can't see a compelling enough reason to own the game. 
I love the Total War: Rome game and would love to see a fantasy version released with that engine. Even better would be Elemental with that combat system. *sigh*
As a side note, a recommendation I'd make for "real time" combat is the World War 2 Close Combat games, an older series that has been acquired by Matrix Games. They've re-polished each original release and are available for puchase/download on their site. Not anywhere near a 4X game by any stretch of the imagination, but I mention it as an example of top-down, real time combat that isn't the frenetic pace you see in games like Starcraft2, etc. (I'm not an employee, etc. of Matrix, just a fan of the CC games, so I thought I'd mention it)
Anyway, it's too bad Elemental isn't living up to expectations/wasn't ready for release. I'll continue to keep my eye on it and hope it evolves into the game everyone wants it to be (or that the picture at the top of this thread implies).
I guess it's time for me to finally download GalCiv2 and give that a go.
[One last comment: I'm your typical fantasy fan who enjoys settings that include men, elves, dwarves, orcs, etc. but the world of Elemental portrayed in the book with the concepts of the Fallen, the "immortal" Titans and other unique inhabitants is intriguing. I like what Brad W. came up with for Elemental and wouldn't miss the elves, etc. as a result. I hope to read that sequel someday!