I think in technical terms this is the best of the series and shows what they really wanted to do with the first game. It's fluid and would have been great for that VR stuff that never caught on back then. The story isn't as good as the second one but it's not bad either. I liked that they kept a common thread through all the games. I wish they had made another but this game ties everything up nicely. No cliffhangers or big loose ends, nice bonus scenes at the end. Puzzles aren't too hard and you won't need any help or get stuck on this one. Overall a really enjoyable game to play and good graphics which still hold up today.
Multi-layer menus don't belong in a space sim. While the technical aspects of the game and flight engine are very good. They forgot the most important element of a game, FUN! It's not. Missions, are long, boring, and not very clear. Even in the training missions, "Once you get there I'll tell you some useful commands." But they don't, and even when it tells you to do X, it's doesn't tell you which keys to press. That's pretty much how the whole game is. An afterthought. Unbalanced combat is another problem, instant death after a half hour of "traveling" to where the mission starts does not make me say "Yay, let's do that again!", and again, and again. I bought I-War 1 when it came out and wanted to like it, but couldn't. At least it had a better story. I-War 2 is more of the same, only improvement is the AI auto pilot. Manual docking in I-War was retarded. I want to like it but I hate it.
Basically what makes this game great is Arthur. Go rescue him from the space station first. The gameplay was limited by the technology of the times but was still ok. Again at the time it was pretty cool. Might not hold up as well as the third game today but just close the door, turn out the lights and pretend it's 1995 again. It's worth it, you'll have fun.