Sometimes a game is more than the sum of its parts.
Within the first 5-10 minutes I spent playing Magicka, I immediately knew its importance to the gaming scene. The combat system accomplishes what hundreds of FPS's, MMO's, RPG's and action RPG's have failed to - something new. And it does it with a $10 dollar price tag.
Just like World of Warcraft catapulted the MMO industry into the spotlight, I can only hope that Magicka has some sort of lasting impact on game developers.
There are problems with the game. It's not perfect. But its deficiencies don't outweigh what it does right.
If you're thinking of purchasing this game, let me put it to you this way - do you want to pay 50 dollars for recycled gameplay, or 10 dollars to support new gameplay and innovation?