From my experience with the demo after more than my initial impression, that sounds about rate,
I will say this about the qauntity of races though. Even though there are only four main races, they break into seperate mini-factions like Age of Empires did and such. Plus, all the customization options seem really sweet. And really, the only reason four factions doesn't seem like a lot is because we've grown used to Dawn of War and we all know how much of an exception to the rule it is.
The community is probably happy because it does feel very close to the source material, at least from what I remember with my short time as a fantasy Warhammer player. In a lot of ways it's almost a direct translation.