Muddy where it's not paved, excellent where it is paved.
Reef village area is fine now, Tres Cocos is a mess with work and detours and the puddles by Capricorn are a challenge.
Mata Grande road is also a big puddle, but passable. Some well intentioned but poorly executed patching has made problems in two areas. One is behind Iguana House were lots of seagrass was used as fill and now is a morass of mush about a foot deep. Passable, but don't slow down as you go though. The big trucks have ground this up even more than carts would have done. The other areas are a couple of mata grande road puddles where construction debris was tossed, unfortunately being large chunks of stuff that can fracture an axel. Go very slow and you will make it through. Wish the person who did that would come back with a sledge hammer and break this stuff up.