I've never played a
GW game but I suppose I have a few opinions.
The company seems to be very responsive. They don't necessarily give in to whining, but they just tend to have this air of listening to what the forum public have to say.
The game is extremely fun. Been playing for a little over 3 years and I think it offers tons of tactical options. Like I said before, I've never actually played a
GW game, but from what others have told me, there is a lot more tactics existing in the Privateer games.
GW seems to put a lot of weight on strategy, which in general means your decisions before the game.
PP seems to have a bit more focus on what actually happens during the game. Just to give it a wag, I'd say about 50-55% of WARMACHINE is based on what you do before the game.
I absolutely agree with waiting on buying books. January opens up with MKII (their 2nd edition). This should be a great book and I'm excited about it. And
PP is offering all the rules right now for free on their site.
I also agree with not jumping to anywhere near 50 points for awhile. The Battle Boxes are pretty solid starting points. After that I'd recommend adding a few units and solos to 25 points. Then a new Warcaster. There is a post
here that has started some discussions on moving beyond the Battle Box. I'd say getting to a flexible 25 point army would cost about $150 retail. This can change significantly depending on the weight of the models you are buying. This could be a lot closer to $100 or even a lot closer to $200.
I hope I was able to help!