I started this thread about it a couple of weeks ago.
http://www.project1999.org/forums/sh...d.php?t=111943
Long story short, it still looks beautiful and it is still buggy (but not as bad as at launch, i hear). I played for a little bit, but sort of stopped when I got Skyrim. Class system (to me, anyways) seems really good. However, I find some of the bugs unbearable, particularly the delay for mobs to attack. Also, other things like getting stuck are quite annoying, even if there is command to get unstuck.
Worth messing around with to see what you think since it's free.