I've been running Exalted 3e, too. I really love the lore of this world, but that hasn't changed between editions. I missed 1e Exalted and read into 2e a bit, but never actually played it. Had a lot of friends that did, and they typically said good things about it, but I missed out on that. Like WarDomo said, it has cinematic combat of sparks flying as swords clash and ring off of armor when characters are doing this tug-o-war of Initiative, and then the fight comes to this great, climactic moment as someone with enough built up Initiative just rolls a pile of 20+ dice, killing their opponent instantly, often enough.
It does have its flaws, though. If your character is built like a tank---you've chosen Resistance as your strongest Ability, you've got all of the special powers and you've got the strongest armor---there isn't much keeping your enemies from building up Initiative on your squishier allies and then slamming you with a big Decisive attack. There's a note in the book that if an opponent is helpless, the GM should just have the next Withering attack kill him off so that players can't just farm Initiative off of it. But that little note doesn't seem to cover if the opponent (or the player) is still in fighting shape, but is just easier to hit than the tanky guy.
But there are some great things about it, such as the social system and the crafting system. I haven't seen either of them done quite as well in other games.
My players definitely find the Charms to be the hardest part about character creation, but I always thought it'd be fun to pick out those special abilities. They're all pretty interesting. Even some that let you create life and land.
I found this, though, and it seems to help a ton when dealing with charms:
Charm Cascades