Subsim have published a full review on Cold Waters. You can read it here:
http://www.subsim.com/ssr/cold_waters/review_cold_waters.php
Also today, the beta for version 1.01 which fixes many of the initial bugs with Cold Waters is now available for testing if you'd like to give it a go:
http://steamcommunity.com/app/541210/discussions/0/1353742967812606761/