I also run it at 1680x1050, and yes it's properly supported and looks great.
as far as how it compares to homeworld, I'd say the closest thing it resembles is Conquest: Frontier Wars, without the campaign, if you know that title. it's basically a real time 4x game.
also, I'd like to point out that it seems the AI has gotten smarter from the beta, last night the two AI I was fighting coordinated simutaneous attacks on 2 of my systems, took out the infrastructure and fixed defences and bombed the planet a bit, then took off when the fleet arrived. great fun
This comment was edited on Feb 5, 09:49.