Akrasia, over at Akratic Wizardry, has an excellent entry on the “problem with feats.” I have to say it’s a close approximation of my own feelings on the pseudo-powers system. The only thing I would add is that, as I see it, the reason feats were introduced was to provide a skill/power system while keeping the class based system. In my opinion, it would have worked far better if they had simply scraped the underlying class system and built from the ground up.