If you can take the grind, or the terrible economy, the pvp is worth it.
There are tons of good and bad things about the game. The bad first just to get them out of the way. The economy in game is entirely screwed over by bots and gold farmers.... It used to be a lot worse, but you won't find a player that doesn't buy gold unless they are masochistic about it and farm all day. Or have multiple accounts and are able to bot high bosses with guildies. Every single person I knew that has played this game, has botted, which leads me to the next bad point of the game, its overrun by bots. There might seem like alot of players on at all times, but 90% of them are selling in the main town Giran or out botting. Its irritating, but its the truth. Oh and also the level grind can be ridiculously tedious at higher levels. Well mainly the levels right before a class change IE: 17-20, 37-40, etc...
Now that the bad points are over, the good points come in. First the PVP is FREAKING AMAZING, 150+v150+ castle seiges are amazingly entertaining, and take alot of strategy. Alliance battles and guild wars are phenomenal as well, instead of being based on just running around enemies like other mmo's its more based on knowing what skills to use at what point in a battle, its a really great designed pvp system, and its really really fun. Another major good point in the game is the graphics. At the point of this review they are definately dated with other games that have come out with better graphics, but NCsoft has come out with graphical updates to try to keep it in the times. But at the point of release, it had the best graphics on the market for any mmo's out and still looks somewhat good in later armors and with the highest settings.
All in all, if you can deal with the inflated economy and the major amounts of botting that people do (or just find a private server like everyone else, if you can't deal with it) it can be an amazing mmo, one of the only mmo's I have ever come back to like 9 times.