I am still willing to keep playing it but I can't help feeling it is going to the same place that Civ4:Colonisation did, to the back of my drawer in favour of the older version.
I did exactly this. I really enjoy the original Colonization and was so excited when I heard that they were going to release a new one... But I was so disappointed. Somehow they managed to take away all the fun of exploring and settling a new continent. In the original Colonization, you wouldn't even think about declaring independence until 1650, in Civ4:Col, you wouldn't stand a chance against Tory if you played that way. The battle of independence was a very small part of the original game, it was more of a final test. In Civ4:Col, everything was about that battle, which I always find rather boring anyway.