First, I have to say I haven't playtested this Ninja, but I love the Ninja class and have played the old 3.5 C.A. version.
But to get right to the point, why is Evasion so all comsuming? This ninja gets it at 10th level and through Advanced Talents(Rogue)can get Imp. Evasion at 12th.(If you want)
The problem is when you get it. It is a long way from Evasion at 2nd level for a Rogue, and at 10th level for a Ninja. Those low levels can do you in without superior AC, Con, and no Evasion. But a Ninja CAN get it.
The big problem for me is Trapfinding. And according to the rules, it's not necessarily finding, but disabling. There is nothing that says you can't find a magical trap as a Ninja, you just can't disable it. You can access the Trapspotter talent(through Rogue Talent)-I love this talent, like the Elves of 3.5.
So you can locate almost as well as the Rogue(I know, you don't get the 1/2 level boost that Trapfinding gives you), you just can't disable magic traps- and they can be the deadliest. And if you set them off, a Rogue has Trapsense and a Ninja doesn't.
But that is the trade off. The Ninja gives you Shadow Clone, Vanishing Trick, Feather Fall and all the "Bombs". This is stuff the Rogue could only dream about(or UMD a wand).
There is alot of really cool stuff with the Ninja Class, and I like what I see.
But you have to decide-Do you want to be a sneaky fighter or a fighting sneak?
By the way, thank you to SithHunter, Midnightoker, and Paizo for making this thread, at least, informative and entertaining without vitriol and pissing contests.