I just played it. For being free, it's decent, however any real FPS will outclass it. You start with some basic gear and money, and you get money every round. With the money, you get to purchase weapons, clothes, backpacks, grenades, scopes, and the like, but only for a certain period of time. It ranged from 1 day to 90 days. There is also a "premium" tab, which i assume is for the money-payers, but is grayed out for the beta.
As for the game play, it is a copy of counterstrike basically. It has slight imbalances, and spawn camping is common. The graphics look decent for a free game, better than soldier of fortune payback in any case. However, the game is nothing to write home about, and I un-installed it shortly. If it's your only/first FPS, then its decent, however any "Real" FPS is better. Then again, it IS free, so just give it a try. You might think differently than me.