My female character looks great. It's not easy but if you play around with the character editor enough you can make really good looking characters. I found that shading the skin and giving some color to the cheeks helps a lot for me. So I hope they don't overhaul it in 2.
It's funny how people cry about this issue so often. Are you going for sexy or normal? Because every time I've recreated my character, whether in Demon's or Dark Souls, PS3 or X360, she's always looked good to me. I always go for normalcy rather than sexy. She's always beautiful too, and this time, on the night of release, it took me 30 minutes of screwing around on the character creator before I was happy, which is hardly any time at all, because I knew what I was doing.
Perfect. --- Your name is sung and tattooed now on my heart - here I will carry you forever CarryTori Amos