Is it the best thing since carrot cake? No. But it is still good for people who enjoy these type of games. I can play Morrowind easier than I can play Oblivion and way more easier than I can play Skyrim without getting bored because I am a P&P fan. It is a game designed to be P&P in feel although quite limited by the hardware and software of the time.
If one can see past the boring dialogue system and the dated graphics (and I guess younger people and/or people who never played P&P, also might need to get used to the combat system). It is a solid 3D open world fantasy action RPG.