Hits:
Commentary - I think everyone else has said it already, but the dynamic duo is fantastic. This "feature" alone breathes life into a part of the game that was completely stale. Good job!
Stadium life and lighting - PS4 felt a bit dulled in colors in past seasons.
Not this year. I really like the light shimmering of Raiders, Cowboys, Saints, Panthers and Patriots (and old Seahawks) helmets. I like that the different helmets have different "sheens" to them. Weather has been fantastic for me in CFM. I have gotten snow in Denver (did not get one snow match last year M 16) and rain varies in thickness and density. The time of day comes through and really livens up the stadium as you see the sunset in late 3rd or 4th quarter. Only thing I would change is the terribly overdone pink of october.
Player editing - It is great! But Please: Let us zoom in more so we can see the details before we hit the pitch?
Reduced ratings - I am a fan. Too many 90+ in earlier seasons. I dont see too many Rookies that have high ratings anymore. Seem like most players are not defined by just one stat in their ratings.
Play the moments - It is a great way to get more game balance and time managment (for those of us who cant play 3-5 hours straight). I like to mix up the ways to play franchise now.
Too bad simming means you loose out on all the awesome commentary gold that keeps dropping.
Misses:
Rams stadium after the Coliseum - it is dreadful! Please dont make the Rams change this stadium in CFM.
Uniforms - Where is the dreadful last years color rush unis? Where are the late 60s unis? I want a
full spectrum of new and old unis.
Create a team Franchise - I will keep saying it forever: Do it. Do it now.
Cuts in preseason - This needs a fix. It seems the AI keep cutting all my players? Its a bit frustrating having to go into free agency and see a ton of young (pretty solid rookies) and manually re sign and re cut all the ones I want. I dont even want to know how people who are playing 32 man franchise is feeling ( Ifeel for you ladies and gents!) An extra chore that I guess is a bug or a glitch, but seem to be unadressed at this point.
Practice squad - As above, or because of the situation above. Its either broken or I have so few players left after the AI is done cutting all it wants I cannot form a practice squad. I played a CFM withthe Bills and the AI just goes overboard cutting all my potential talent = no practie squad!
Players resigning too soon? - I understand. Calvin Johnson did it so now it is the new normal. However: I feel all the good QBs decide to call it quits after 2016-17 season.. I dont understand. Why would Tom Brady call it quits after another playoff run? Why would Rodgers? More variation on when players resign is cool. Just make it more plausible! Maybe we could have a rating called: Staying power, indicating a players wish to keep playing in the league, then we could edit that. Editing Tom or Aarons age just feels weird.
Newsfeed - Why?
Why did they mess this one up?
I loved going in and reading the newsfeed in past seasons to see how different teams were doing. I really dont like the "new" news feed. It feels shallow. Often the big news (someone breaks a record) gets drowned in talks about scouting. Not cool.
Too much Coaches retiring / getting fired - Being a head coach in NFL is not really secure, but it gets me that coaches who have been in the game for decades goes off to retire after a year or two and in steps mr nobody.
At least add more veteran coaches! And Coordinators! And yes, I know I can just turn off Coach firing. It is not what I am saying. One bad season and Jeff Fisher retires, Coach Arians Retires? no no no.. smh
Finally I want to say that I think this years CFM is pretty good.
Actually.. Im lying! 
It is the best it has been in years..
I hope they continue building on this foundation, and not reboot the entire gig next year because graphics or something else.