As for the v3 update, it is certainly better than v1 and v2. On the technical side, everything is done traditionally on a high level. The main thing to keep in mind is that there are a large number of different storylines, and you don't have to go through them all. And if you're like me, you're not ready to turn your decent Monica into a porn star, it's worth having at least one separate save for a decent playthrough and one for a depraved one where your Monica is held back by nothing. I don't know how this will work in the future with similar casting quests, which have seamlessly transitioned from the "White" chain to "PhotoShoots" (but I'd like to see it work).
Nevertheless, the first "Husband Casting" quest can definitely be done in two ways - decent and lewd (with or without sex). I would venture to guess that here Monica's decency parameter will be crucial (as well as her earlier decisions), as this quest chain should be the final one before the end of the game.
So you may like the update depending on what exactly you're expecting from it. I, for one, am looking forward to The Office (the main storyline), The Basement, and the "ghostly" The Farm. It's also worth keeping in mind that if you decide to finish the Home storyline early, you'll encounter a bug/error, but I hope the developer will fix it in an upcoming patch.