http://www.youtube.com/watch?v=U1QYMFGEv5M
Yes. It lives up to it's name.
It's an interesting approach to space combat strategy. You design your ships, customizing their weapons, shields, armor, and a lot more, then you assemble your fleets for battle using a deep order-creation system. But then, when you click "start battle" it's hands-off. Your ships fight on their own, according to their outfitting and orders, while you watch and enjoy. You can zoom way out and observe the grand scale of battle, or you can zoom in and enjoy the carnage on a more personal level.
There are 3 categories of ships: battleships, frigates, and fighters. Fighters come in squads. You can assign engagement rules (even individual engagement conditions vs different ship classes and even on a per-weapon basis), make formations, assign ships to protect each other (a massive capital battleship with squads of fighters swarming protectively around it is a hell of an awesome sight!)...
There's a lot of depth to just about every aspect of the game, which makes for a wonderful degree of balance.
One of the best parts of the game, though, is the fact that you're not burdened with participating in the battles. Instead, you're allowed to sit back and enjoy the space carnage, which is indeed gratuitous. You can vary the speed of battle progress so there's no threat of things ever getting boring. But they don't, anyway.
It's the kind of game you can jump into for one match or sit and play for hours and hours...immensely playable and easy to just jump right into, but (I can only assume, as I haven't had it for long) difficult to master.
The game uses a masterful mix of detailed pre-rendered ship designs and beautiful effects to build some spectacular visuals while still being pretty lightweight as far as system requirements.