Highly underrated game! Short but fun and memorable.
Easily ignoring these shortcomings, the game has tons of engaging side-quests, spectacular graphics, and unique approach to certain gameplay elements like sailing, and thievery, making for a fun overall experience.
My only other complaint is that the game was too short--I finished in less than 40 hours, despite taking my sweet little time, compared to over 200 hours I put in Oblivion GOTY. Also, it "felt" shorter because I was having so much fun. And speaking of RPGs from Bethesda, I would rate it higher that the recent Fallout series. I can't wait for the add-ons (supposedly coming on 2012, wtf??) and the next game in the series.