I'll be honest, I didn't know what to expect when I first heard of this. It was in, I believe, a thread on another website about two (then) upcoming space combat games, Space Pirates & Zombies and Starfarer. Being a big fan, I tried to get them both, but saw Starfarer was not out and bought SPAZ instead. Really a fantastic game and I recommend it to anyone that is enjoying Starfarer and wants to play a more complete game while they wait.
Maybe a week or so ago I picked up the alpha of this--it annoyed me that there was no demo because I ALWAYS try before I buy, but the descriptions looked nice and it was just $10 (I think?) so I took the plunge. Holy ***. This game is freakin' great. I mean it's obviously unfinished and the campaign is clearly a WIP but this thing blows my mind. Maybe it's because it's exactly what I've always wanted, sort of a melding of SPAZ, Mount & Blade, X3, and Escape Velocity. The battles are awesome and I can tell the campaign mode is shaping up to be sweet as well.
My advice to the devs: forget about working on battles & adding ships for no. Battles are awesome and ship variety is fine. Get me a universe I can campaign around in, multiple systems, goods, built-out factions, etc., and I'm not sure I'll be able to leave my room for a week. Once you get that up-and-running, the modders will really have something to run with--obviously I'm sure you'd like to refine battles, add more ships, etc., before release, but right now I'm sure everyone is dying to have a playable campaign.