I was a fan of 2nd edition Nobilis - out of the RPG:s I've tried, it was the one which had the greatest potential for making weird and fanciful characters, and character creation is one of the things I really enjoy.
And Nobilis 3rd edition is, I'm happy to say, more than twice as awesome as its predecessor when it comes to character crafting.
The new Attributes are better than those they replaced, the Estate Properties really helps define what your estate IS, the lifepath system makes you examine your character and give it depth - and above all, Bonds and Afflictions take your character's personality traits and codify them in a way that provides awesome game-mechanical advantages.
Now, this book does have some flaws, the prime one according to me is that it needs MORE STUFF.
More example characters, more background story, more Gifts, more Treasures, more gameplay examples - an example session play-through like in 2nd edition would be excellent - more details about Excrucian tactics, more campaign ideas, more example Projects...
HOWEVER, these gaps can be filled in - there's stuff available on the net, like the play-through or rule question threads on the rpg.net forums, or the example characters on nobilis.me (I contributed a page of example Estates there myself, and quite a few example Bonds and Afflictions).
That is to say, what we've got in this Book is - as the title says - The Essentials.
Everything else can be added later. (I hope for a volume 2, myself.)
[5 of 5 Stars!]