Been playing it for couple of hours and here are my impressions:
First lets deal with teh graphics(X360),360 version was done by a different team.
Its a typical PC-console port,textures and foliage took the hit,there are some really really low res textures there at some places,but on the other hand lightning is good and the game has a dirty look so it makes you feel like you really are on some island that time forgot.
Performance wise game is really good,fps whores don't need to be afraid.
Game stutters only when its autosaving,it doesn't happen too often,you can't disable it.
Also game doesn't have brightness slider,so it can be really dark at times,but afaik due to the people complaining patch is in the works.
Music,sound-great,no complains there
Voice acting also great,although copy-pasted,just like lots of characters faces,lets say that the game has a lots of twins

Controls are good,UI could be better,but its not the game that will hold your hand,you need to think.
Now to the important stuff,its a great rpg,lots of interesting and shady characters,interesting quests,multiple ways to finish them,quests are interconnected.
A little example,i was asked to get some stolen things from some shady characters,they where willing to sell it to me,but he price was a little too much for me so i tried to beat them up,being a weakling i failed...So what did i do?Simple i just attacked them one by one from behind in some dark place when nobody was around and took their stuff...
Leveling up is like in Gothic,when you level up you get points,then you have to find a person to train you and you have pay for it.
The biggest decision for me now is,who to join?...decisions,decisions
If you are graphics whore,get a PC version...will comment on that little bit later,if everything goes well.
If you what some overhyped dribble look somewhere else,plenty of candidates for that.
If you want great and addicting RPG with some presentation issues look no further.