Slow to start and very high learning curve, but by FAR the best PVP game on the market.
A quick note on the graphics... First, this is an indy game. Remember that.
Second, few games even try to handle 200v200 man true-aim PVP. The graphics are scales accordingly to allow people without beast machines to play sieges. That being said, I love the art style and disagree with the graphics gripes. Those that play games purely for aesthetics probably won't enjoy darkfall anyhow. The substance outweighs all.
PvE is much better in UW than in DF1, though it could use the much anticipated dungeons.
While you may not think full loot is for you, it probably is. Gear in DFUW is important, but not irreplaceable. You gain quite the stockpile. Full loot also makes the most mundane tasks turn into heart pounding experiences.
Give it a shot.