* The caster/melee power disparity. I'm not exactly one to care overly much regarding balance, but I do care that everyone feels like they are contributing. I don't like it to seem like you are playing second fiddle (except by design).
* I dislike "save or die" mechanics. Basically anything where a single roll spells total failure.
* I think the CMD thing is a nice step, but it still feels... odd. It seems to lead to weird situations with the bonus vs. the resistance.
* And I inherently feel... constrained by the system. Which is hard to define but easy to fix by house rule/ignoring things. But then I start to think about other systems that wouldn't need that...
So, basically, it's just a couple of things but it does keep me from fully buying into enjoying running it. It's not insurmountable, and I'll keep pondering on it probably up until the hardcover is released later this year. Of course by then Earthdawn 3e might be released and I'll have to check that out.