Yeah, the AO release was fantastic -- no bugs, exploits, nothing...glad they spent all that time putting in new content...
I don't know anything about 10six, other than that it is not running anymore, so I'll have to take your word for it.
SOE hasn't done jack shit as far as new content, admittedly, but frankly, this [retail] launch has exceeded my expectations in every single way. The servers have by and large been up, except for short (<15 min) downtimes for reboots and patches. There do not seem to have been widespread exploits, and where there were, a fix was in place days after release. Lag hasn't been bad, except for Emerald where there are just too many fucking people (note to SOE - you should have opened the second servers much sooner...).
Set your expectations low, and you are unlikely to be disappointed, as they say. Maybe mine are set too low, but considering the scale and speed of PS, they are doing a LOT better than I think most in their shoes would be.
Did you play too much beta Tek? It's way too early in retail to be this jaded about PS