Not an fps space sim, but a damn good space sim nonetheless.
When I fired up the game and saw the hero creation screen I just about freaked out when I saw the skill tree. The large, beautiful, RPG-ish skill tree. Sure, the rest of the game quickly reveals itself as a branched strategy game, don't be too quick to pass over this title merely because you didn't see it on retail stores or found any hype about it. Yes, the translation is a tad awkward at places, but the (very minor) mistakes are hardly apparent. In fact they're more of a symptom of a non-native speaker making a different choice of words rather than someone mangling the language (I see native speakers type way worse on forums online...). The voice acting is also pretty decent, didn't have issues with it. In fact I liked them.
Graphics are pretty crisp albeit space is fairly empty for the most part. Well, that's true, it's a vacuum, innit? Whaddya expect. Stripped down to the basics, the game is divided into mission and intermission. Mission is where you fly around taking care of mission objectives. Intermission is where you allocate your team's skills (everyone has their own skill trees! Plenty of overlap and the skills all fit into several archetypes - pilot, gunner, missiler, system guy - but at least nobody's a carbon copy of someone else).
Story has two different endings, depending on which side you pick during the endgame story arc. Your team composition also changes slightly, depending on what missions you flew some characters will join or leave your team. Not too much choice here unfortunately, but at least it's there, and you can see the potential in such a system. Best of all, the sequels all build on this, so you definitely want to check this out.
There's plenty of gear to purchase as well, from ships and guns to missiles and onboard systems. You can even kit out your mothership as well, turning it from a hapless transport into a menacing gunship. Of course, you need to defend it, as you lose the game automatically if your mothership gets destroyed, but this just spices things up.
There are different factions as well, but unfortunately faction relationship is more determined by mission choice rather than carried over to subsequent missions. E.g. if you blow up a patrol (space police) squadron, the patrol faction will be hostile to you on that map, but in the next mission they'll be neutral again. Again, the sequels build on this, and it's not really a handicap (unless you're going for self-imposed realism or whatever).
Good game, definitely buy it. There aren't enough space sims out there, let alone good ones. There have been too many mindless shooting games masquerading as space sims recently, we need more fresh games like Star Wolves. This game gets two thumbs up from me, and don't forget to check out the sequels, they're bigger, better, and more badass - everything you could want in a series.