It's more complex than WoT's, at least. Aklyon got most of it, but here goes:
+General gunnery:
-You can fire single shots, fire in sequence, or fire full volleys from all available guns.
-Shell trajectories are pretty decently modeled.
-You actually have to be able to aim decently and lead your shots, and contrawise can dodge fire that isn't point-blank, even in a BB.
+HE shells:
-Lower base damage, but guaranteed to do damage.
-Chance to set fires, which vary in severity and cause damage over time.
-Higher chance to damage turrets, AA guns, rudder, &c.
-Tracers glow brighter so you can easily tell when someone is a scrub who just spams HE.
+AP shells:
-Higher base damage, but can bounce off if you aim badly.
-Spalling is modeled to some degree; if you don't penetrate, you'll do minimal damage.
-Overpenetration is modeled. This is why you want to switch to HE for DDs and CVs.
-Decent deflection modeling. When you shoot at something from long range, your shells plunge properly for deck-penetrating shots, but will bounce off the sides. Counterpart, at close range your shells will bounce off of the deck and tops of turrets &c.
-Cause max damage on citadel penetrations -- it's more reliable than engine fires in WoT if you have even the slightest clue where to aim (and guns that can penetrate). I've been one-shotted and one-shotted other people before. Note that, for the time being at least, you can't get citadel penetrations on DDs because they already have a very low health pool, take high damage, &c. However, you can enjoy constant strings of citadel hits against certain low-tier Japanese cruisers.
+Torpedoes:
-Have pretty different profiles depending on the nation. Japanese torps are generally longer ranged and detected further out, while US torps are generally faster. This encourages different styles of play; Jap DDs and cruisers tend to spam spreads towards choke points and in open water, while US DDs like to linger in ambush near islands.
-High damage. This is the equalizer for DDs and the main weapon for CVs (more on that later). A T3 DD can one-shot a T5 BB if they land a full spread, for example. Because of this, they tend to separate the wheat from the chaff -- the shitty players are the ones who hold the same course for 30-40 seconds and wonder why they got torp'd.
-Chance to cause flooding. Like fires, damage over time. I say "chance" but it's pretty much assured.
+Carrier play:
-Contrary to what you might have heard, not Arty 2.0. They've got several roles: fighter cover for the vulnerable ships on their team, scouting, and killing enemy CVs and BBs. Bad ones hide in the back and take full offensive fighter loads, good ones don't.
-The big problem here is with dive bombers. They can only carry HE bombs at the moment (though this is supposedly going to change), which makes torp bombers almost entirely superior.
-You can manual-drop torpedoes and bombs in addition to letting the AI do it.
+"Consumables"
-Not like they are in WoT. They're free, but some have slightly improved versions you can use for silver.
-Differentiated by class. Everyone gets an unlimited-use repair party that extinguishes all fires, stops all flooding, repairs all damaged modules, and then goes on a decently long cooldown. All those types of damage naturally run down and end on their own, but using this unwisely means you could spend a minute burning.
DDs: Smokescreen, speed boost.
CA/CLs: Early ones get nothing. Later ones get an ability that makes their AA guns more effective and causes the spread of enemy plane-launched munitions to be wider and less accurate. They also often get rail-launched spotter or fighter aircraft.
BBs: Self-healing ability, which repairs minor damage, usually ~8% of the health. Many also get the same rail-launched planes.
-All are limited, usually to 2-3 uses per match, except the damage repair party. Commander skills can increase the number of charges and reduce the cooldown timer between uses.
tl;dr? I'm certainly enjoying it more than WoT, probably because RNG has a much smaller role to play. It's also more in-depth insofar as that you aren't just whittling down the health. Every ship has at least one way to reliably chunk enemies with citadel hits or start DoT tickers, as well as disabling crucial systems (as in, the stuff you disable is limited to: offensive weapons, defensive weapons, engine, rudder. No more BS about killing the radio operator or knocking out the viewing port). Most also have utility roles to perform; CA/CLs and DDs can irritate BBs with firestarting, CA/CLs can screen CVs and BBs from airstrikes, BBs can physically block fire directed at an allied ship, CVs can scout over islands, DDs can intercept enemies making runs on CVs, &c.
Urrrghh the Kawachi really is a hell. It looks like the 2 following ones are rather good compared to their USN counterparts, though.
The ranges and speeds in this game are... odd. Apparently both ship dimensions and time are scaled up by 2,5 to make the gameplay quicker.
The best way to get kills with the Kawachi is to go in for rams.
It does get better, though. The top hull on the Myogi is close to an American cruiser in terms of AA capability, and of course when you get the Kongo it's time for BURNING LOVE~