not so good, but OK
Graphics: the game hasn't the most advanced graphics up to date, but it isn't bad looking, animations are fine, but there aren't quite enough. Due to one of the many bugs, you have to cranck up one of the default graphic settings to see spell animations etc...overall not that bad at all and you don't have to own a very expensive card. It runs fine with everything on except AA with my overclocked GeForce 6600GT.
Sound: is rather shortcoming..there is a hitsound for about every type of monster, but it's always the same. background music is good, it doesn't get annoying but it doesn't add any value to the gameplay. environmental sounds are OK, but not overwhelming. Due to bugs you should experiment with the different kind of sound devices 'cause with some settings you get a soundcrash.
Gameplay: it's a simple click system, that works surprisingly well :) (WASD is broken+double mapped keys on AZERTY) you can also click on your map to move, so that's very handy. you have several quickbars for your diffent attacks (normal attack is automatic), also you can adjust a slider for the use of autopotions on your health and mana bar, which will be used throughout the whole game. When you make your character, there are 3 available races (human, orc and moon elves), each of them having a warrior, mage and archer class, except for the moon elves, they don't have a warrior class. Every class is gender bound and you can't edit the appearance much of your character, But that isn't important, cause mostly you'll view your character from afar. There are additional changes ingame...even facelifts(this is a fantasy medieval world :p) There are a lot of armour types and weapons for each race/class, but not too much, so that's OK I guess. One thing that bothers me though, is the slow leveling...you really need to grind a few hours nonstop to lvl up. Luckily some quests are mega-rewarding. yeah, some say the game doesn't have many quests, but every race has a lot of quests. 800+ for each race. There are also enough skills for each of the races/classes. The skills are divided in 4 categories (combat, buff, passive,class). there is one free reset available and should be used in a later stage of the game to correct beginner mistakes and (by that time) worthless skills.
PvP combat is very depended on your lvl and is available from lvl 15. You have to hold ctrl and doubleclick on a person to attack him. If you kill someone who's more than 3 lvls below you, you get a villain point. If you collect enough villain points, you become a rogue (which has 3 stages). Each stage comes with more limitations to the game.
Other: the game's free so I can live with the many bugs it has. It has a horrible netcode, so at castle siege days, everyone lags...and everyone gets lagkilled at some point. Even one of the Archlords has been killed by a mob while flying his dragon...Also I suffer from about 10-15 disconnects if I game all day long + up to 5 crashes which mainly happen when I click an NPC. The guild system works nice, also the rogue/wanted(bountyhunters!! :p) works nice.
I really hope most of the bugs get fixed with episode 3 of the game (currently we are in episode 2: season of siege) and this game is really more worth than a 2.7, but then again, you had to pay back in those days...If you want to spend the money, play WoW or LotRO, else you should give this game a try.