Alright my thoughts on each track after several listens. Overall really feeling the album, it's probably above College Dropout, Graduation and Yeezus for me.
Great:
Ultralight Beam - Best song on the album. Genuinely moving, and i'm not even religious. Chance's verse is the best on the album. This track is perfection, it makes me wish the whole album sounded like this.
Feedback - That beat is insane, one of his best verses on the album. "Hands up we just doing what the cops thought us" is a dope line.
Real Friends - I love this beat, it sounds so much better then the Soundcloud version. I like that we get some of the more vulnerable Kanye, and just generally like the atmosphere of this track.
Famous - This would be even better without the Taylor line and Swizz dumb lines on the outro. As it stands it's still great.
No More Parties in L.A - I love Kendrick, and the beat is fiery, but Kanye steals this track with some insane bars.
FML - I agree with a lot of the comments here, The Weeknd killed it. I like Kanye's vocals and the beat as it goes along, it's rad. The outro's fine.
Good:
Fade - This beat deserves more then the vocals it gets, the beat is insane but I don't really like any of the vocals outside of "I feel it fade".
30 Hours - The freestyle outro is terrible and drags down an otherwise great track.
Wolves - Ye's verse is pretty bad, but I still love the dark atmosphere here.
Waves - Just a fun song really, it goes into FML pretty well. Thank you Chance.
Father Stretch My Hands Pt.1 - I really like the beat and hook here, Kanye's verse is garbage but it doesn't bother me too much, his flow is still nice.
Low Lights - I like this spoken word portion with a pretty nice beat coming in behind it.
OK:
Facts - The beat is better, but it doesn't make up for Kanye's garbage bars. I still enjoy it well enough.
Pt.2 - I just don't really like the main beat here or most of the beat switches. It starts fine but then gets worse, before the outro which is pretty good.
Highlights - Another beat which deserves better. One of the verses that really bothers me on the album, that Ray J line is terrible. The "Bad Bitch up at equinox" part doesn't do anything for me. The songs fine, I won't skip it, but it could definitely be better.
Bad:
Freestyle 4 - The only track I really don't like. The beat is fine, but everything else is lame.