Finally found one yesterday and could not agree more. As impressed and excited as I was from all the photos of it, there was a whole other level of excitement seeing it in person.
THE GOOD
The most immediate thing to jump out at you in hand is the size. One of the biggest complaints when NECA launched their Godzilla line with their Legendary Godzilla figure was the new figure scale they were opting for, coming in around 6" where a typical NECA figure runs 7-8". This guy is bigger than previous Godzillas, ironic since in film, it's the smallest one they've made to date.
On area I had reservations about based on photos was the skin texture. I guess it just comes down to the lighting most shots are in, but the patterns in his legs seemed too obvious and a bit strange, hard to describe, but in normal house and store lighting, it looks just fine. Sculpturally this is NECA's best work to date, the textures are much closer to the original suit and his overall proportions and shape are really close to the '54, I looked at him from many angles and got excited seeing scenes from the movie in my mind. The face is instantly recognizable as the '54 and not something generic. Is the sculpt spot on, no, but for the most part, I'd have to really pour over reference and scrutinize it to tell you what's off, the discrepancies aren't blatant. They even captured how his wrists really thin out from his arms and hands, at least as much as they could and still have the articulation they gave it.
The articulation is fantastic, as smooth and easy to work with as the 2014 figure and a really good range of positions all around. The only other NECA I can compare to is the '84 which I'm not too thrilled with the posability on. The jointed fingers are a great touch allowing multiple hand positions to recreate your favorite look from the movie or promo stills.
The spines are fantastic. This is often an area where '54 figures fall short, and they have such distinct shapes it's important to the overall figure quality. I have the original Bandai Japan '54 vinyl, a great figure but the spines are the weakest part and it's quite noticable.
A small detail that I really appreciate, the skin has a very dull finish instead of that plastic shine that has made other NECA figures come off more like cheap toys.
THE BAD
As much joy as I get from this figure, and as amazing a job as NECA did with it, it does have some flaws that bother me.
The most significant flaw for me is the execution of his jaw articulation. It works and looks great on the 2014 figures, looks pretty good on the '84, but here, when his mouth opens, the wider it's open, the more he gets an underbite look and the front of his lower jaw sticks out further than it should, and I checked, it's not the jaw coming out of the joint, this is just how it ends up. From most viewing angles it's hard to see and unless you plant to do figure photography like me, you'd probably never notice, especially just putt him out on display.
Spine paint is another weakness. On the '84 it doesn't stand out as much with how small they are, but here, the spines are big and the paint by numbers application takes what would otherwise look like a high end figure of this sort and reduces it to a Bandai Creations level "toy". The only good thing I can say is, as basic as it looks, it's at least applied cleanly. The negative with NECA is sometimes you get basic paint schemes and they're applied sloppily.
Tail thickness is also a negative for me. While length is usually the concern on NECA Godzilla figures, here, the length is fine for the suit, but it's pretty thin where it meets the body and the length of it thins out fast because of that. It's most noticable to me in profile view but it's the only body shape area that throws this thing off from looking spot on '54 to me.
OVERALL
Great value for the money, this is the type of figure I expected when NECA got the license, glad they're coming around and I look forward to the future with excitement. I know the slightly higher cost of this figure caught some people, the sheer difference in size from previous Godzilla's justifies it and he overall feels more worth his cost than some of their other figures.
Awwww! How sweet! 
