I have not actually seen the second edition. so this may have been made more obvious there. however, i have always wondered after my first glance through the first edition about the power levels of exalted characters.

from what i remember, the characters are supposedly demi-gods or something (could be wrong as it's been a long time since i looked at it). are they capable of feats more impressive than the other systems' characters (werewolf, vampire, etc)? are they more powerful in combat scenarios? the impression i remember is that they are not. could someone more knowledgeable please elaborate and satisfy my curiosity? i've always wondered since i first looked at the book and never had opportunity to play.

From the amount of exalted I have played Exalts are far more powerful than other WW characters.  Quite Simply they are supposed to be the movers and shakers of the exalted world (as opposed to OWod in which your characters are usually far outstripped in power by the NPCs)