Playing it gave me the same feeling that watching any of the Lord of the Rings films did. Because the game (as in the LoTR movies) spanned such a large area of the SW universe, as well as being so rich in history, especially if you played KOTOR 1, it gave a very rich sense of depth. I personally have experienced that only once before, in Baldur's gate 1 and 2 for PC.
The customization and use of the NPC's in this game as incredible, the lightsaber aspects were amazing, and the story sucked me in.
Having said that, yeah, the ending was a bit of a let down. At least for the light side...I only just beat it, though I've started a 2nd game. I can truly see how this project was rushed to the market...the LS ending seemed to have been tossed in as an aside. I think, as was already mentioned, more information given on what happens with the rest of the Ebon Hawk's crew, as well as the Exile.
My only thought is that they are paving the way for KOTOR 3. Will the exile then follow Revan in his search for the enemy that Kreia said will threaten the whole galaxy, sith and jedi alike?
I don't mind endings which leave you hanging, so long as there is a hint of something more. This didn't have it. When Kreia goes on about being an emptiness in the force, it honestly left me feeling a bit empty and unfulfilled playing the game.
I think then, that some clues or hints, or such, should have been given for LS endings, that perhaps lead you to believe that the exile could only find something to fill the void if he followed Revan into the beyond. Who knows...I haven't heard anything about KOTOR 3...maybe that was their plan?
PS - I also agree that the Trayus academy was too easy...mind you, I only played on the normal difficulty, but one jedi against a handful of sith marauders and such should be difficult, not easy. But again, it is kind of cool being able to kick ass on that scale.
Overall, I give the game a 9 out of 10. And the more I play it, the more I'll like it, ending aside.