Extremely entertaining. I recognise its many flaws, but they did not come close to ruining the game for me.
Although the options were extremely black and white in places, I still enjoyed the chance to make them. The change in appearance wasn't amazing, and there were bugs, but it was a fun feature nonetheless.
I loved the ability to do jobs. They weren't complicated, but were a nice addition to the game. Nothing is more relaxing than chopping logs in Oakvale as the sun comes up.
The ability to sacrifice in the Shadow Temple and to capture civilians as slaves were another couple of nice features. On my Evil character's playthrough I thoroughly enjoyed marrying some poor gypsy so I could bring her in for some violent sacrificing via a large wheel that decided it would be best to turn her to stone.
Hard to ignore its faults, but when you do the experience is most pleasurable.