I haven't had that much time lately to play, so my judgements here may not be perfect, but I'll give it a try anyway:
Policies:
The Good: Overall I agree that policies are well balanced. In another thread, there are many complaints about the engineer from Tradition. While I don't think having an early GE available in Tradition is a bad idea, I can definitely see how it might come too early. Moving the GE to the Tradition finisher may be a good idea. I also think that the liberty GP should be moved to Freedom and replaced with something more wide empire-y, such as 1
in all cities. I disagree about the happiness from Commerce being too much. I would say cities average about 2 luxuries per city (feel free to dispute this, I haven't counted or anything), which is on par with other happiness policies, such as the 2-3 happiness from buildings in Piety and Rationalism. 3 happiness
might be too much for police state.
The Bad: With tree finishers added, I don't think there is a single policy that will never be worth getting. Still, I think that Order in general could be improved. The Order tree has the worst access to happiness of any tree, at only 1 per city. Even Liberty and Tradition only need size 10 cities to beat this. Communism is also very underwhelming now. It would seem with the science boost to factories, the devs wanted to make order good for science victories, but I would probably prefer to go freedom and run scientists to get me through the late game techs. I think the boost to military CSs is out of place in Order, since I typically am more likely to invest in CSs with a small empire. I also still think that culture granting policies should be reduced, especially from Freedom, but that is a discussion for a different thread.
Wonders:
The Good: I think wonders are very well balanced right now; no wonder seems OP to the point of being nearly necessary to play a particular strategy, but they are almost all very nice to have under the right circumstances.
The Bad: GL got overnerfed, I think. In another thread someone suggested adding a scientist slot or 2 to GL, which I think would be a good idea. Hanging Gardens may also have been overnerfed, but I haven't tried it since it was lowered to only 5
. I have never been a fan of the Kremlin and Himeji Castle, but that reflects more on the fact that they are unnecessary against the combat AI then any sort of balance issue.
Buildings: Once again, buildings are generally well balanced, and I can't really say I find any buildings worthless. The bonuses to defensive structures in the early SPs make much more worthwhile, and give the Pioneer fort a very nice boost.