Almost, but not quite just sums it up. Lots of good stuff mixed with lots of mediocracy.
The combat systen is just bad. You can't block or evade monster attacks and so you just slash around and hope you can soak more damage than the enemy. Or you get yourself a gun and alternate between bunny-hopping around an shooting at the enemy. Later in the game you get voodoo tricks to help (or a better gun depending on the side you choose) combat gets easier but still isn't fun. Combat against human opponents isn't much better by the way - you are supposed to be able to parry, riposte and all that but it never really works.
You get glory for defeating Monsters and doing cool stuff. For the glory you can buy point in different categories and for money you can buy skills for the categories. Not a bad idea really, but it feels unbalanced and half-baked. I also never really felt a progression in my character - you don't get better in combat you just sorta suck less.
Story & Quests:
Nothing really new. At first you are looking for one artifact and once you find it you are looking for three additional artifact. Same goes for the quests, they are not really bad but uninspired. You solve a lot of the boring gathering quests just by scouting the islands, something you have to do anyway or you will never stop to suck at combat. The voice acting is OK and even funny at times, but expect to be called stupid a lot from pretty much everybody else in the game. I guess it doesn't help that a lot of the words that are put in your mouth ARE STUPID
You can gather a lot if stuff but very few things that feel important. For example unique weapons. If you search the first island very thoroughly you get half a unique weapon. And on the second island if you fullfill a rather halb-baked quest you could easily miss you get another half of the same unique weapon. Too bad it's the same half. WTF? You find the real second half on the third island in a chest inside town. What I am saying is that exploring never really rewards you. You get some stuff and glory but nothing cool. The idea the designers had is that you find unique items that boost certain stats. But since you never feel the difference it just feels pointless.
I like the game, the setting is kinda interesting, some of the characters are really cool and since you find enough food to heal yourself all the time the stupid combat rarely leads to death.
But don't pay the same for it as you would for a top rpg like, Fallout or Skyrim because it's simply not in the same league.