Woah hold on there compadres. There are still drops but not nearly as much as last year's game. What I have found though, is it really depends on what team the player is using. As the TCU Horned Toads I had horrible blocking and a ton of drops. I was basically making things happen with my HB as my only offense. My QB kept over throwing or leading way too far, on top of my other problems. I restarted my Heismann mode and got drafted by FU

lol) and it's been awesome. It's a passing team but my created HB is killing the stats and is having a fantastic season.
All American is definitely not too easy. The guy above seems like he really plays the hell out of all of these games, so of course it would be easy for him. Fact is, I've played All American games which I have won 35-10 and games in which I have lost 21-0.
I personally really like the game despite having no affiliation to any collegiate sports team. My main problems are:
Impact players, especially HBs, have TOO big an impact. It's hard to stop them when they are in the zone.
The juke is too powerful. Yes, perfectly timing it in a videogame should yield a reward, but not 100% of the time against AI. I defy you to tackle me in the open field head to head.
You have to put up with a lot of the BS from last year's Madden game. This one is self explanatory.
I can put up more if you want, but I need to save some of this goodness!
PS: No online sliders.
For now though, the pluses, especially Heismann mode, far outweigh the minuses.
Edit: I agree with bill on running being crazy powerful. But the default difficulty is Varsity.