I'll guess I'll start off the discussion then. I think it's one of the top 3 epic fantasy series being written at the moment, and Bakker has shown a tendency to improve from the first book to the second.
The Darkness that Comes Before was a very good introduction to Earwa and the story - the worldbuilding flowed in seamlessly with the plot, the characters (particularly Kellhus, Cnaiur and Xerius) were well constructed and very believable. To add to this, I can't think of any epic fantasy writer at the moment that is such a good stylist - his prose is excellent, lyrical but without being difficult to read. One thing I found particularly refreshing about the series was that there weren't many characters you could identify with - even Achamian isn't perfect. The beginning of the DtCB was very intriguing, but it soon slowed down, and the limited focus on Kellhus had an adverse effect on the novel. It was necessary, because it was an introductory and worldbuilding novel, but it meant that it wasn't quite as good as it could have been. After a while, it picked up pace, especially with the Holy War, and Bakker was not afraid of providing shocking scenes.
The Warrior Prophet: I thought this was a significant improvement on the first novel - it was more tightly written, more focused and explored themes better. It extended the characterisation of the first and made the world a lot more believable.
But first things first - one thing I found very useful was the "What comes before" section at the beginning of the novel - in a continuous series like this (ie ones that don't conclude after each book) it is incredibly useful. As for the story - I liked that there was a greater focus on Kellhus, and some characters, eg Esmenet, which seemed pretty much "good" characters in the first have a number of their flaws revealed. Bakker's also created a truly ambiguous novel, and it works on a number of levels, though the crusades and religion being a major theme throughout. Needless to say, I can't wait for the Thousandfold Thought.