After opening up the box I found myself impressed with the materials included. Dreadfleet is an all inclusive game, with everything you need to play included. The cloth playing surface is very cool, and the game mechanics are definitely well thought out. The ships are very detailed, and the terrain and other bits for the game are equally detailed.
One thing that was annoying though was that there were no instructions for the construction of the terrain and ships. Literally nothing in the game book, nor in the box. The instructions were in the October White Dwarf, included in the painting guide given in the magazine. Since you're already spending $115 for the box, gouging for another $9 to get something that should be in the box is definitely like getting kicked in the shins.
The ships go together nicely (I had one exception which I'll discuss in my WIP post later tonight), and each ship is very distinctive in its mood and looks.
Overall I give this game an 8 out of 10. Loosing points for the cost ($115 for a game is definitely a bit steep), and also for having to purchase their magazine to get something that should have been in the box.
Edit: WIP post delayed until later today (Tuesday), camera isn't holding a battery charge, so I have to get a new battery. Pics and post by late afternoon my time, baring any troubles getting a new battery for the camera.