It needs work. Or rather, you need to find a difficulty level at which you're having fun, and that level may not be what you expect. The AI is quite good, very aggressive, but unfortunately, it seems that how much it cheats is all over the place, probably due to bugs.
I don't think this is a problem once you get over the first difficulty hump. Most old timers have found their niche. But it is a problem for new players, because a game can be easily lost, even at low levels, due to things newbies do not understand, and do not know how to deal with.