Epic and awe-inspiring!
The graphics still hold up today (2008) in that even though you know this is an older game, the world is still beautiful, there are still moments where any gamer will stop and enjoy the sights.
The world is huge, it feels bigger then oblivion and a lot more magical.
The combat is the weakest part of the gameplay, but honestly, I don't really play this game for combat. In fact, I turned down the difficulty to it's lowest setting making most enemies a mere hindrance that could be handled in a couple of seconds, and I instead played the game with a mindset of exploration and fulfilling quests. I think that helped me enjoy the game that much more.
Another weak point is that while the music that is playing when you enter the world is awesome, you also hear that same music over and over again. A couple of more audio tracks would have been appreciated.
The story doesn't grab you because it is so wide-open but there is so many details and so many books to read in the gameworld that it is indeed a very rich tale.
This is a great game. If you are into refined action and twitch gameplay you will not like this game. If you like exploring and enjoy rich game worlds this is the game for you.