Well, there is a small description included with every mod (before you d/l it), so that might help a bit... Also there are comments about each new d/l added on the home/news page of TLR, so you might wanna check that out too.
A separate section dedicated to mod reviews might very well be impossible because of the technical difficulties... You know what I'm talking about, right?
Good idea, tho.


Careful what you wish... You might just get it.

I agree it is very confusing to know what features each mod offers. It can be difficult to pick out the current features from a big list of version by version adjustments. By this i mean absolutely no disrespect to the mod authors who are already devoting alot of their free time to moding and cant be expected to put out user friendly manuals after each release.

I'm sure the mods/old timers () are better qualified to rate these but in the meantime here is a review/feature list for FLRebalance 1.4.

Mod - FLRebalance 1.4
Author - Michael Dan (see readme for other contributors)

Major features -

Rebalancing (duh!) - Ship speeds reflect size i.e. light fighters are faster than frieghters. Various weapon damage has been altered to balance weapons. Capital ships/bases weapons do more damage. Collision damage far higher.
NPC's shield regen similar to players. Freighter have bigger cargo holds.
Engines/powerplants/tractor beams etc all buyable/lootable. Shields lootable.
Battleships/cruisers/gunboats now spawn on patrol routes.
Battleship destruction missions available from bar.

Other features -

There are 3 levels of difficulty which you change with a batch file. The higher the difficulty level the faster the NPC's shields regenerate, the longer cruise disrupt lasts, the more shield damage weapons do (from 0.4x hull damage to 0.6x), the better loadouts NPCs have, the faster cruise speed is (400 @ lvl 1 to 500 @ lvl 3) and the more loot you get from NPCs.
You get more relative damage for hitting a shield with a weapon it is weak against.
Missiles now occupy torpedo slots.
You can pilot gunboats.
All of the SP jumpgates are opened so you can revisit alaska or omicron minor/major.
Various jumpgates have been added to make getting around the map easier (some from grrssk MOD).
NPC fight better possibly cause of the upgraded hardware/ships/speeds possibly better AI, anyway they are harder to kill.
Level requirements (money) increased, also reward from some earlier missions increased to balance cost of new ships/equipment.
Many, many ships have been added/made pilotable. Here is a partial list :
Awing
Bwing
Xwing
Slave1
TIE Fighter
TIE Interceptor
TIE Defender
Starviper
Starfury
Bretonia, Kusari and Rheinland Gunboats
Corellian Corvette
Jedi Starfighter
White Star Cruiser
Junkers CSV
Armoured Marine Dropship
Phoenix
Thunderbolt
Nial Minbari Heavy Fighter
Millenium Falcon
Sith Infiltrator
Hornet
Hellcat
Vindicator
Armoured Transport
Full credit is given to the various authors of these ships in the readme.

A few ships have 'hyperdrive' activated by pressing engine kill, it makes you go about as fast as a tradelane but anywhere you want.
Pirate escape pods drop as loot from pirate ships and can be sold for a bounty.
All bases/station are now destructable.
New weapons/equipment such as nomad prototype/laser, nomad cruise disruptors and full selection of c10 shields.
The two 'easter egg' planets have been given a use and now sell powerful upgrades/weapons.
Trent has new clothes and shades
There are probably many more tweaks etc. i have forgotten but i think i've covered most of it.

Pros - Fighting battleships really adds replayability to the game, it is quite a sight to come out of malta/crete and be greeted by 3 different factions blowing the hell out of each other in fleets of capital ships.
The huge ship selection is also great, especially in the SP missions/cut scenes - blasting out of sinclairs lab in an xwing? Cruising along the tunnel to scoop up the nomad power generator in the millenium falcon?
Cruise speed and general ship speed increases mean far less time wasted waiting to get places.
Ability to upgrade your engine/powerplant gives the game more depth - while the big size of some of these upgrades prevents a small ship from being usefully 'ubergraded'.

Cons - Cant fly battleships/cruisers.
Need self control () - although the prices of new ships are now calculated with FL Ship Cost Calculator i still feel like i'm cheating when i'm flying them. E.g. i paid around 250,000 for the jedi starfighter which can take 8 class 10 weapons and a turret. It would be easy to kit that out with a beefy powerplant and i would never need to buy a better ship. This is offset by the high price of equipment, but playing on level 3 difficulty i was averaging 1 mission to level up each time due to the value of stuff i was looting. Like i said tho its a matter of self control, if you are cruising through the missions no probs, never running out of power for your laser you know you are exploiting the game.
No new systems? I think new systems are planned for later versions.

I'm not going to put the general rebalancing in pros or cons. When playing i dont honestly notice much difference and there are always people winging on the forums to tweak this up/down a bit. I think it comes down to your personal preference so to know if you will like it you will have to play it.