It's not the best game of all time indeed. But quite a pleasure to do or be whatever you want anytime. Worth the playing
This isn't a game where you'll learn everything you need at the first 2 hours of game. You'll certainly need a FAQ/Walkthrough to know the whereabouts of good items or quests to make your character grow fast and "easy".
Really, if you stars to find the game boring just because you "newbiely" walked minutes and minutes to reach your goal or a city, don't surrender. Read a FAQ with some tips and hints, I think almost everyone who played the game did, even the most hardcore RPG players.
Good:
Big game; You're free to do whatever comes to mind; good 3D character and scenery view; a vast list of spells; a lot of fun skills (stats), such as speechcraft.
Bad:
The gigantic map makes it hard to explore everything doing a lot of newbies confused and frustrated sometimes (like me); A few lags due to "loadings"; There's no things as cutscenes even in the main quest; If you're new to the game, you can do a lot of irreparable mistakes because of the complex mechanism of the game.
Graphics/Video? Hell, they're so f**king good, considering the game was made a few years ago. And if you dislike the First Person view, you can change to the third to be able to see your character and his actions.
Sound? Well. I don't really know much of audio things, but they're quite medieval themed to the spine. Fusing the sound and the scenery, you really feels like in some medieval history.
Gameplay/Control... Well. It could be better, really. It's ratter difficult to understand and manipulate everything with dexterity, so try exploring every command (seeing the manual, or not) before get to the real thing.
Replay. I don't think this is a game to play multiple times. But if you're fascinated with it, just go by different paths, with different stats and good luck =D
If you get confused about the meaning of a crazy word, don't worry, you've not forgot how to read English, it's me that forgot how to write in it =P