What's it going to be Hero? Good or evil? Handsome or ugly?
Story wise, Fable could have done a better job seriously, it's too predictable. Furthermore, whether you choose to become good or evil, ultimately you'll still be led down the same storyline. If the story arced at a certain point due to your good/evil actions, it would have made for more re-playability. Unfortunately, poor character interaction also mars Fable's innovative game play.
One qualm I had was the spell system of using spells, having to press shift and scroll to the spell I wanted was a waste of precious game time getting whacked around by the monsters. But the spells were cool especially the assassin rush spell, however nearing the end if you didn't spread out your spell levels too much, you will find it overpowered. I defeated the last boss in less than 5 minutes.
Graphics for Fable were pretty good, with alot of attention paid to spell animations. While music was pretty much the same throughout the towns, if the game had a different soundtrack for each town, it would have made it much more memorable.
Overall, Fable scores for an amazing character customization system, but lacks a solid story line and challenge.