My opinion on the original topic - no, it is not, not by far (based on 0.992). It still does too many things that don't quite work well together. Combat (which I consider one of the weakest parts of the game) is still bland without offering significant tactical dilemmas and choices - what you do is obvious 90 percent of the time. Building placement adds nothing significant to the game. The factions are still bland and derivative (standard fantasy stuff). The flow of the game is both tedious and random. Most of the time, you wait for some resource to accumulate while exploring, which depends on luck a lot. I am yet to see the new content like the campaign and such - if there is a strong story and engaging campaign, I would rise my evaluation quite a lot.
But as it is now, in my opinion, FE is an okay game.
Examples of better games (again in my opinion, only turn base strategy games are eligible)
- Total War games that have much better combat, while being a bit weak on the strategic level
- Galciv 2 which, strangely enough, works much better overall on the engine,
- Crusader Kings 1 and 2 (depth, complexity)
- Europa Universalis 3 (depth, complexity)
- Dwarf Fortress, the fortress mode
- Civ 4 and Civ 5 (yes, Civ 5 has gone a long way since the buggy launch, though it still loses a lot of points for the AI)
- Battle for Wesnoth (It does much less, but what it does it does extremely well, polish, maturity of the engine, editor, tons of usermade content, strategic and tactical richness)
- Warlock, Master of the Arcane
... and doubtless many other games I have not played.
On the other hand, FE's strong points are the art, captivating graphical style, atmosphere of the maps, to some extent, and the music is not bad either. What it could benefit the most, I feel, would be strong, well-written lore and background story (I have yet to see the campaign, but so far, I fail to spot anything that would indicate it will be present in the finished game).
I don't want to sound too critical, FE will be probably good, or even fantastic game for the players that seek what it offers (what is it exactly is still unclear to me), but being the best modern turn based strategy game?
Not by far, IMO.