not sure...one thing that is holding it back is only four starting races. I know two people waiting for the second wave of factions.
Table Top Gamers is running a tourney a Gencon, powered by John himself.
As for competitive play, I cannot really answer that, as we've not used the card decks yet, and we've only ran starter on starter.
Overall I think it has the potential to be a good game, once it expands a little bit. The ships are worth the cost, and the game play is better than some games I own models for, so all in all I think it will be fun.
Let me know and I will see if I can get stuff together for a demo of the game at ACME. still learning the game, but I could probably teach the basics.