Yes, read it! Thought it was well-thought out... Few points:
1) A friend pointed out to me that the situation Kvothe is in is unrealistic; Kvothe doesn't seem to have many enemies. Someone as awesome/arrogant as him would have people doing things out of envy/hate left and right if they didn't love him.
2) TVTropes pointed out that the magic, for all its jargon, is basically voodoo. Yeah.
3) It's wobbling between "Kvothe is awesome" and "Kvothe is a Mary Sue" for me; I find the writing much more humble and more realistic, than, say Heinlein's works, but on the other hand... few people are just awesome at everything. Kvothe has that whole arrogance flaw thing which keeps him from being totally Mary Sue, but it's near that border for me.
4) I can see that the archives would be unorganized. However, I think that at some point, there would have been a fairly comprehensive organizational system-- someone had to be zealous enough to do it.
Overall, I think it was a pretty good book and definitely a new use of some of the standard fantasy fare.