After testing this for a while on a mates rig, I gotta say the price is really too big for me. Currently on Steam Sale I can get 3 or 4 4x Games for the same price, if not more. Hoping that it goes on a 50% sale or something, otherwise I'll probably skip it in favor of sticking to Gal Civ 2 or Sins of a solar Empire. If Distant Worlds would cost around...say 30 Euros, it would be an isntant buy for me.
About the game itself tough:
I found Pirate Gameplay fun, but a little...weird. Either I dont fully grasp the mechanics, or the whole protection money thing is randomized. Some Empires that were on par with my military strength payed up with no big problem, other much smaller ones refused even after I blew up their entire fleet and was circling their Space Ports. I preffered Smuggling Missions for a bit of money on the side, and then stick to boarding ships (prefferably Constructors) and installing Criminal Networks on Planets.
When playing regularly, I liked that you can start pre-warp and watch your Empire grow from nothing. Generally, the game really tickles this great feeling you get from watching your empire grow. The fact that the AI builds private Ships that transport cargo and people really helps the atmosphere along too. It's funny that the advisors tend to recommend a really aggressive approach tough. If you listen to them when it comes to your fleet-size, they will blow your ENTIRE Cashflow on Military-ships.