I've just played a bit, and I'm digging it. It runs really well, too. It's Sacred. . .in 3d. If you didn't like Sacred, you probably won't dig this.
Complaints (so far):
You have to exit to the main menu to tinker with graphical settings.
When you tinker with graphical settings at any time other than game start, it has a tendency to crash.
Playing without vsync is not recommended. It tears all over the place. Luckily, it runs well enough that you can afford the luxury.
The UI, while improved, is distinctly eastern European, maybe so far eastern that it's been irradiated by Chernobyl. FYI, to change weapons, youa ctually drag the new weapon over the old one on the main screen--there is no weapon slot in the equipment screen, for no logical reason.
The hotkeys aren't, well, rationally placed. I still haven't figured them all out. If 'I' doesn't open my inventory, u suck.