does anyone know what it is?

Level cap30.
Skill cap 100.
Trait cap 2.
Perk cap 15.

30

So I'm guessing its not going to be possible to create a god-like character this time round then ?

Might be but hopefully not.
I'm sure that if you look through a guide after the game's been out for a while then you'll see several good guides for creating an über-character.

I hope the level progress is WAY slower than F3. I actually avoided doing things I knew would give me a lot of XP because i dislike levelling too quickly, which is stupid since it's supposed to be a reward. But I find it spoils a lot of the fun of a game if it's not very carefully balanced in this regard, and loot and money also. F3 missed the mark wildly on these. Recently Dragon Age hit just about right, and NWN 2 before that.

Level 30 is the cap and I heard that getting to Level 30 is harder. Although I think thats a load of crap because I'm still going to have no problem getting to Level 30

To a degree, alot of the god essential perks like Grim Reapers Sprint have been trashed or powered down, and you wont be able to have 10 in every special (no Almost Perfect, or anything like it)... but, why would you want a god- character anyway? Defeats the whole purpose of the game in my mind.

And you know this before you have the game because you're psychic?