Graphics are dated, .....So why can't I stop playing it......to much fun for one game....
Honestly I put the graphics at HD, full AA, bump mapping, and native looks great. Some of the Mods make them even better.
That aside, this is a full open world medieval simulation. The world is in constant flux and you can choose your place in it. From honorable knight to bandit lord, to humble vassal of a king, to conqueror.
The combat is fantastic. Not perfect, but the some of the most realistic I've played and very flexable. You want to be a viking? a Knight? a barbarian? an archer? crossbow man? Spears, swords, knives, rocks, axes, lances,halbreds,short swords, two handed swords, maces, blah, blah
Combat is well designed with directional attacks and blocks. tactical advantages, and different uses/strategies for different weapons.
Open plains battles, mountain battles, river battles, town battles, full on fort and castle seiges.
Game looks dated, but I can't stop playing it.