Well I finally got my hands on the new 'dex, and I gotta say I really like it. It's fun, flavorful, and competitive. The fluff is really good and the army list really sticks to it. But, already, there have been cries of "CHEESE!!!" and "BROKEN!!!". At first glance, I don't find anything really broken, yes, there are some really powerful things in there and there might even be some really sick hidden combos that will be revealed once players get an in depth look at the list.
It is an army that kills really well and you could very easily make an all-comers list with relative ease. It is easily in the same tier as Orks, Vanilla Marines, and Imp Guard.
My only problem with what I saw in the Codex was some of the sculpts. Some Wolves looked like ancient and mighty badasses, others however, have mustaches and facial hair that look like turn of the century baseball players, and others have 80s style ponytails that I can't help but look at them like they are going to jazzercise class... When did the mustache-that-connects-to-the-sideburns look ever say 'badass'??? Also, the dude mounted on the wolf. The guy looks awesome, but his wolf is a disproportionate, squirrel tail, nightmare with a cyber-eye... WTF?!
But, for every stinker I saw, there is an equally badass wolf lord sculpt that just rocks. Overall I give the new models a B-, pretty damn good, a few pew, and no Lemartes...