I doubt it could improve upon the second edition.
Sorry, latent snark coming to the surface.
I just didn't have much luck with it. I found the prose near-impenetrable and labored.
I lurves me some Nobilis. Especially the GWB. But it could definitely stand to be streamlined, no question.
If you pull out the mechanical/gaming bits, it really isn't that complicated or overwrought. Essentially, compare your relevant score to the target number and add miracle points until you beat it. That's really all there is to it. Obviously, contested tasks have each side adding miracle points until someone wins, so not really more complicated there.
Why they needed 300pgs in an odd sized format to get that down doesn't matter.
It's a fucking gorgeous book.