Not what you'd expect & free to play definitely worth checking out
There are a number of set classes and races but you can make any race/class combination you want. You can also multiclass however you choose creating a rogue/bard or wizard/fighter once you gain enough exp to level you simple talk to the corresponding trainer to gain a level in that class.
Creating your class takes some thought and research unlike other MMO's. If you don't specialize correctly you're character is fine its just that you'll start to notice they can't do things as well as others. I've rerolled two characters for having done just that, messing up the character creation stats, feats, skills.
The max level is only 20, but levelling isn't that fast. It starts to slow down around 10 from my experience. My highest character is a level 8 barbarian. The game itself gives me the impression of being a 3d Diablo. You enter dungeons with hordes of monsters attacking, with traps, and random loot from chests.
The traps are awesome, and something I haven't experienced in other MMO's. On higher difficulties they instantly kill you if you don't get a rogue to disable them.
My only complaint thus far is what people call dungeon zerging. Veteran players with twinked out characters tend to join lower level groups and suddenly take off once in the dungeon. They rush through the entire place completing the dungeon like its a race.
The game is free to play now but content is limited. You can purchase content on the DDO store and certain quests reward you points for the store. If you become a VIP and subscribe all content becomes available and you're supposed to get 500 points/month.
Also if you like soloing you can purchase hirelings to fill class roles that you group with in dungeons. The hirelings from the DDO store allow you to make an entire group if you prefer instead of the npc purchased which only allow one.