This seems like a good time to share my recent experiences. I'm finding the current system to be relatively balanced on the settings I play (Prince, Huge map, Epic speed).
I feel that there that expansion and warmongering are favoured somewhat. On the other hand, the AIs that I've seen large empires don't seem to have as much infrastructure in their cities - and I haven't had too much of an issue competing with them. My cities are more developed - which means can stay ahead of them in science and culture. The main challenge has been balancing military with development and I think that's a kind challenge I can enjoy.
Still, I've done a lot more warring in this game that I have in previous games, and part of the reason for that is that war weariness isn't hitting me as hard. I've been able to rack up 30-40 war weariness without it really having much of an effect - only my outlying cities were unhappy and I don't care about their growth much. I manged to stay above 90% empire happiness the whole time. So that might bear some adjustments.
To be honest though it's been a lot of fun. I experienced parts of the game that I haven't before - like learning to sell of buildings before I raze a city, and that civs won't accept a city as a gift if it's unhappy. I learned that when you ask someone not to settle near you and they actually say yes it stays that way for a long time (and so does the diplo penalty, appropriately). I also learned that having a defensive pact with a civ gives you a minor diplo penalty. Finally I learned that if you want to spread multiple religions to a city in order to pruchase religious buildings it's more efficient to use one missionary and one inquisitor than multiple missionaries.
Next up, luxuries feels a little odd. The AI seems willing to trade spare luxes for fairly cheap, which makes getting WLTKD and completing city-state quests to access a luxury feel a bit too easy. I actually still find luxuries very worthwhile because even aside from the happiness getting WLTKD in all almost all your cities is quite valuable. Furthermore I've found I can often trade for a luxury for less gold than I get as a reward from city-states that want it. I don't know what if anything should be changed there, but I thought it was worth noting.
Finally, having specialist unhappiness apply on a local level feels... odd. In the past writers guilds, artists guilds etc. have been good for cities with lots of much food and actually work to combat unhappiness because they slow growth and provide culture. Now building a guild in city with happiness problems usually means those slots go unworked. This isn't such a big deal as happiness is less of an issue, and building guilds in the cities which already have lots of infrastructure makes sense. The thing is that this applies to all specialist slots. Which means that the island cities I would usually have working lots of specialist slots to slow their growth are working more sea tiles instead and keep on growing. This isn't unmanageable. I guess the fact that they seem to manage unhappiness dynamically suggests that it's balanced - they seem to work exactly the number of specialists that they can manage without being unhappy. I do have to invest in a fair bit in infrastructure in these cities though to keep up with their growth.
Actually, it seems to me that specialist slots are worked less in general in this patch. I haven't generated as many great people in this game, and that surprised me because my empire has been more prosperous in general than most games. I had a strong start and was able to maintain a comfortable lead from about the Renaissance era. I have fewer great person improvements, embassies, and great works than the average game though. I imagine this is probably because the unhappiness generated by specialists is factored into the city's management decision - whereas before these betas that was factored in on a global level.
I guess that's about it. Below are a some of screenshots from the game at various points. At the moment I'm on 100% happy, and of my unhappiness about half of it (70) comes from specialisation. Most of the rest (39) is from Distress. Other information that might be relevant is that I have 14 cities, 11 wonders, 385 citizens, 55 techs, and my policies are 6 Progress, 6 Artistry, 6 Rationalism, and 6 Freedom.