Don't listen to the haters, this is a great game.
Gameplay: Great, this was the best action RPG I have played. It is similar to Fable with its Melee, Magic, Archery Combination but it is much deeper due to the RPG style. I played this on Gothic (hardest) and found the challenge to be just right. There is a fairly decent customization system.
Graphics: Great, I have a decent PC so I turned everything up to high on 1080p and got some great results. It is not perfect but its not a bad looking game.
Sound: Excellent, the music was great, can't think of more to say about that.
Story: This is the weakest link (for me at least). There was definitely a story with various NPC willing to talk to you to death, but I skipped through most of the dialogue and just played through. The story seemed a little confusing, I am sure if you are a big fan of RPG's and want to go deep into the story you can.
Final Point: Gothic 3 was a very open world game, you could access any point of the world and have a relative roaming experience with no limits. That was great but the gameplay was weak and story weak as well. People are expecting Arcania to be an HD remake of previous gothics, its not, its better. It is more linear and the combat had been streamlined. For me, these were both welcome changes because the combat is actually fun, which is the most important part. and the more linear focused gave it more pace and just felt more enjoyeable compared to running around the forest for hours and hours.
Overall: RPG fan with decent rig, must buy. Open world addict, wait for Two Worlds 2??? or go replay Gothic 3.