Good if not compared to other games like Oblivion and Gothic. Not a cheap copy of those games.
When first starting Two Worlds, one is automatically inclined to think of Oblivion due the the similarities in graphics, and compare it to Gothic because of the third person view. Only after spending a few hours with this game will you really see the gem beneath the similarities. It might not be as good as Oblivion or the Gothic series, but it stands out in its own way.
The graphics on the PC are nothing to scoff at and comes across as well polished. The game had a few more bugs than were necessary at release, but patches have since sorted out most bugs and problems, making the game more stable and less of a chore to play.
Combat wise you get a pretty decent amount of ways to play this game, but it's still ill advised to go with a purely ranged or magic class. Melee rules the day in this game. Ranged and magical skills are best used to compliment your melee skills.
The content in the game is mostly vast, with some areas feeling a bit devoid of creatures, emphasized by the fact that creatures don't respawn. You'll often find a lone wanderer or mage hiding out in some ruins with some weird quest for you to do, helping immerse you in the game. In quite a few quests you have a few different ways to complete your objectives, adding a little extra content for some.
The play area is huge. It stretches from snowy mountains all the way down to a barren desert in an old volcano and to a dark forbidding forest. There are a number of caves and similar hideouts dotted all over the map for you to discover and plunder, sometimes making it more worthwhile to walk rather than teleport anywhere. The world is filled with memorable NPCs and a huge variety of creatures for you to kill.
Ultimately the game come across as a fun RPG that doesn't really do much innovative but is still rather fun. This is one game that you should rather rent before you buy it, but should buy immediately if it falls in your taste.