So far, the guys at Paizo really seem to be making a decent fist of it, what with the coup of getting Monte Cook on board, the pretty fantastic-looking production values, and the good idea of releasing "alpha" and "beta" editions for play testing so as to avoid going head-to-head with the release of D&D 4e. The problem for me, apart from the rules, is the setting itself, which has been outlined in a recent blog entry linked to by trollsmyth:
One piece unique to our RPG organized play system is factions. Every faction has its own unique history, culture, style and specialty. Each has its own modus operandi in the ongoing struggle for control of Absalom, and each offers the Pathfinders in their service different boons. Choosing your faction is as important as choosing your character class or race. It helps define your character in the campaign and ties your Pathfinder to one particular nation's destiny.
You see, the idea of factions isn't unique to Paizo's "RPG organized play system". The above paragraph could, with one or two changes of nomenclature, be describing the concept of factions exactly as they exist in the Planescape campaign setting - complete with ongoing struggles for the control of
Even fishier is the fact that Paizo's very acting-guru Monte Cook has his own World Within A City Campaign Setting, Ptolus. This makes Absalom seem not only derivative, but worryingly "influenced" - in the same way that books by inferior authors have tag lines like "in the tradition of Stephen King" - and I don't think it bodes well for the future of Pathfinder.
That said, I'm willing to wait and see what they come up with over the next few days in the way of elaboration.