I have mixed feelings about FR CCAF 2765. Overall I think it is a decent work, they have about the right number of units for 2765, leaving room to get to the canon 122 regiments in 2785/2799.
Takiro - you reference relations with the TC but I didn't see anything about the Concordat in the FR. During the later years of the Age of War there were decent relations between the TC and both the FS and CC. With the CC largely sitting out the RW it is possible that the Concordat had good relations with them but if you look at Periphery 1e, the TC mistrusts the CC almost as much as they mistrust the FS.
I agree with your comments about the Merc forces. They should have been mentioned in some detail, especially since they are apparently serving very long term contracts. Even a listing of the 9 regiments would have been sufficient.
The warship section....I'm not even sure where to start. First off the fleet is small, way too small. H:RW implies the CC transferred 2/3's of their fleet to the SLDF. We have numbers for the House fleets in 2575, which is after they transferred their forces to the SLDF in 2571, so in 2571 the CC must have had about 120 warships (If 45 is 2/3's of the CC fleet they would have 135, but they need less then 127 ships since the TC had the 2nd largest fleet so let's call it 120). Making things worse is that during the RW, the SLDF transferred 6 Aegis to each house and may also have sold/transferred Vincent Corvettes, Vigilant Corvettes and other vessels. Yet the CCN is still at 45 ships in 2600s, despite having suffered no losses (other then maybe a few operational losses- the CCN did not see combat like the other states and should have no combat losses). Then by 2765 they are down to 37 ships, (actually in 2750 they were as low as 30 ships) despite having received Barons, Carsons, Lola Is, Vigilants and Essex Is from the SLDF. (I am assuming the Vincents were new builds from Delhi- let the Capellans build their own corvettes). And they built 10 Soyals. So what happened to the rest of the ships in their fleet? Were they retired? Scrapped? Destroyed? Given that warships seem to stay in service for centuries and that the Capellans got rid of the worst of their fleet in 2571, what happened to the other vessels in their fleet. Were they that poorly designed that hand me down HAF ships were better then them?
It's also worth noting that in TR3075 the implication was that there were more Du Shi Wangs in 2765 then we see in the FR- the book refers to less then a dozen surviving to the 1st SW. While no production numbers are given the fact that the TRO refers to less then a dozen surviving implies that the CC built way more then a dozen. Also I find it interesting that the TRO entry says less then a dozen survived. Including the Du Shi Wang captured by the SLDF there are 6 know survivors in 2765. Typically you would say only half dozen survived or some such, when I read a vague statement like "less then a dozen survived to the First Succession War" I translated that as more then 6 but less then 12. So I was disappointed to see only 6 in service. But enough about the fleet- the writers have a different vision then I do and they are not going to change what they are doing. As for SD well I think we are in agreement that the fleets need to be bigger and that we need to take our own approach to this.
Moving on to the industries section I found it the most interesting section of the FR. It was a little light on hard details but there were enough tidbits to provide a good basis for the Capellans industrial capability, while allowing us to flush it out as needed. I would have liked a little more coverage of the aerospace industry but overall it was well done.