Like previous Ultima Online Expansions, this one won't bring new players into the world, unless you really like elves.
PvE content expansions tend to all be the same. And this game is no different. The new tasks, quests, and dugeons are just that. More of the same thing. It does provide several hours of nice entertainment, exploring and trying out new things. However, the gameplay remains the same. The same strategies used in the past are used against new monsters. You just have to figure out which of the old monsters the new ones are like - whether it be a jousting strategy or otherwise.
The new social content includes increased ability to interact with other players over community-oriented sites within the game world. But these are... dull.
The new character content has most people the most excited. Increased storage space is nice... especially for old gamers who have collected tons of junk over the last 8 years. New crafting options leave for some interesting play, though in the end... again, it is all the same.
The biggest change comes in the ability to change your character into an elf. This change was needed perhaps 3 or 4 expansions ago. But finally it has come, and is slightly disappointing - not because of gameplay, but because of graphics. This game is so outdated with its graphics, that the new elves realy don't look all that different from the humans. Sure there are added components of crafting and fighting. But still... it really isn't that different.
All in all, if a player wants to keep up with the game, he or she has to buy this one. But if you are looking for a new game to play... go elsewhere.