It really depends on what you expect. Shiny new areas have been added, content has been added (including animations and one model!), and quests have been added and improved. Even NPC interaction is improving.
However, if you're not deeply into RPing (in the drama way, not the hack&slash way), then PS will still bore you after a while (not necessarily a bad thing IMO).
BTW, the news on the mainsite aren't exaggregated; the expectations that unsuspecting players have based on them are.