Its fun - I just got my ironman game to endgame and had a good time. Lost several ships, missed a few trades, but no wipes. I DID have to run for my freaking life once, but in general it seems that the enemy (non-bounty) fleets are smaller than in past versions. Most of my money came from trade contracts - heavy machinery is always cheap in Chacoloxital (spelling....) so those are profitable. I also had 4 Buffaloes and a Dram to carry a ton of supplies and fuel, so I made a profit any time I came across a market with high supply costs. I just bought a 14th battlegroup Onslaught and have 3 14Enforcers to guard its flanks (along with another 2 regulars, a condor, and several fighter wings) - I'll tool around for a while blowing everything up, but I seriously doubt anything is going to challenge it.
Funny thing is that I never bought a cruiser, because I never saw one for sale I wanted after I got my rep up. Where be my Eagles?! My Fleet Doctrine is incomplete without Eagles!
Ironmad Mode is simply a waste of time, as it is with any game.
I dont believe most working professionals get more than 1-2 hours of gaming a day. Between that and hundreds of new games released every year, its completely wasteful to throw away tens of hours of progress just to feel hardcore.
I can completely understand this sentiment and I think the game should always have a 'non' iron mode for exactly that reason. I like it because for me its the THREAT of losing tens of hours of progress that makes everything spicier.