My own assessment of the techdemo client combined with my own knowledge of software development (which got me interesting in participating in the first place) got me to the conclusion that the thing is fundamentally broken beyond repair.
My personal impression is that it got hosed by converting it to 64 bit. Lets face it: Neither CIG nor Crytek have someone like John Carmack, who might have pulled such a stunt successfully. The people working with that suboptimal game engine weren’t up to the task.
Good thing I got my refund already before I got hands on the “Alpha 2.0” mess.