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Really interested in this one because I love war TV series and movies, and the Chinese have made some really good movies about the 2nd Sino Japanese war, so how is this drama? How are the action sequences? Characters? Is it a good historical drama?

I would say yes, it is a very good historical drama. Because it's about how one family get through the war, yeah, there are action scenes that add a lot of intensity and are important to the story. There are battle field scenes, explosions, guns, fires, fights, escapes, threatening situations and killing - more than once I reflected upon the madness of war and human nature... but this is definitely not just, or even mostly, an action drama. You get to follow one family and their loved ones, especially the twin brother and sister who are innocent and playful and just about to grow up when the drama begins. There is also some romance. The characters all felt very real and likable to me (even though I didn't like all of them in the beginning) and that's what made this drama a perfect mix of heartwarming and heartbreaking. I didn't want it to end... but I still felt happy when I watched the last episode. The way you do when you watch a very good one! To me The Battle of Changsha was very near perfection. I rated it 9.5.

You should also watch the c-drama The Disguiser. It also has very strong characters and lots of family moments but with more focus on actually fighting the war and you get to see the different sides and lots of plotting and fighting. Not like fighting on the battle field but spying on and killing the enemy. I rated it 8.5.
Let me say this. Once you've watched it, you won't ever forget it. 

It will leave a huge impact on your (drama watching) life.

Note: As long as you don't read the spoilers.
I'm not really into that kind of drama yet I still rated it pretty high, considering how great of a production it was made into.
The depiction of war in the BATTLE OF CHANGSHA is real good. You get to see their struggle but more importantly, you feel it—the intensity, the thrill, the emotions. 
I have to admit, after watching this drama, I have no plans of re-watching it. I'm just really not into it. But still, it gives of a feeling that one should totally rate it high. The cast portrayed their roles real well and the story was really great. Since I can see that you're quite interested in this kind of genre, I totally recommend this to you. Enjoy!

Trust me and trust the rating. It was really good considering its my first war dramas and not interested in that kind of plot. The story, characters, setting all of it was near perfect. Well you have Wallace Huo which is outstanding and looks:) but when you watch it you will not focused on him but to all the characters and the struggles they experienced... It was really good.. great story plot.. I even write a review of that which is very rare for me to do bcoz of busy schedule.. You will love it.. :)
Thanks for the replies! I saw Chinese war movies before and they were really good, in portraying the human drama during wartime but also with good combat scenes. I am looking forward to watching this drama during my long summer.