It is amazing. It is for sadists. But it is amazing.
I highly recommend you look into nerfing the air war portion of the game. It is a stupid RNG fest w/ no real strategic depth. I modded the ini to speed up repair along with a few other minor tweaks.
The rest of the game is amazing, incredibly hard, but amazing.
Yeah, the interceptions are just stupid. You get large ufos far too soon, and everything takes far too much to down until very, very late when you get fusion lances.
I have no idea how to properly edit the ini though, so I'll keep going as it stands. On my third play through now.