Edit : Well after thinking about it, I'm giving this 2,5 instead of 3,5. I just know I will never read book 2, I didn't like this enough. So it shouldn't get more than average mark. 
 My problems were mostly how much of a Gary Sue Kvothe is. He can do ANYTHING and is better and faster at it than anyone, ever. And of course all the girls seem to be flirting with him. At some point it's just too much and unbelievable. 
 My second problem was the spoilers. The book actually spoils itself quite frequently. I hate that. 
 All the scenes in the "present day" were boring me to the core. Those first 60 pages were the death of me, seriously. It took me 2 weeks to go through the first 200 pages anyway... It really only starts around there. 
 Other than that the story is still gripping, the writing very pretty and I generally really enjoyed this book. Those few things mentioned above just made it loose a few points. 
 Oh and the magic system is interesting. Kudos for that I guess !