This edition of the game basically gave up on the idea of being the archetypal fantasy role-playing game. Instead, it defines very tightly what its designers think is "fun" (tm), and it sticks with it.
In other words, this is a tactical miniatures game with role-playing options included for good measure (i.e. skill challenges). You sure can get a good role-playing experience out of it with a good DM, but we all know it: a good DM can run a good session with any piece of crap of a game out there.
The tactical rules themselves are excellent, and though the powers look very similar to each other as you read through the books, the true value of the game's design can only be appreciated via actual play. And there, it shines, when you like such things.
The Monster Manual describes monsters as completely different rules constructs than players' characters. In other words, PCs are different from anything else in the game world. They evolve according to a separate, different logic than the rest of the people and creatures around them. This is supposed to make the game easier to manage on the DM's side of the screen. Some people will appreciate, others will not.
The Dungeon Master's Guide is an abysmal failure of a guide. Its advice is ridiculously one-dimensional, stereotypical, concentrating on what the game designer thinks is "Fun" (tm) while everything else has, obviously, to be "Unfun" (tm). Some pieces of advice are so stupid... it's actually shocking, in a "did this guy actually run a game, ever?" kind-of way. The worse of the three books, by far.
To conclude: if this game hadn't been called "D&D", but still a "role-playing game", I would have given it 3 stars. If it had been called something else, and branded a "tactical role-playing game" or some such, I would have given it a 4 stars. Maybe. But this is called "Dungeons & Dragons", and as such, it is supposed to be "the" Flagship of the Role-playing game hobby. And there, it fails miserably.
This is a tactical game, using "powers" copied on the design of Magic: the Gathering game cards, with the aesthetics of World of Warcraft, with some interesting emergent complexity uncovered when actually playing it, but this is definitely NOT what I would call "Dungeons & Dragons".
For these reasons, I have to fail this game. 1 star. Try again.