It's hard to say how many hours in I am, 'cause it's one of those games you get so immersed that hours can pass seemingly in the blink-of-an-eye. The story is subtle, complex and most definitely interesting -- just like the first game. You get the real feeling that all the pieces are there and you're just slowly unravelling them. The new characters are interesting and it's always good to hear some of the old characters too.
The locations I don't think are as iconic as the first game. They're pretty, sure, but not as polished. It sort of reminds me of KotOR 2, it's a whole lot of fun to play but the first still looks better and feels more complete. Although this game is definately more polished than KotOR 2. (That wouldn't be hard.
)
I'm having good times a-plenty, though.