It's not bad. It is definitely one of the best MMO's I've played and it has some of the best visuals. The one feature it has that I have yet to see in any other is the detailed character creation. It's almost on par with Oblivion and Fallout 3's chracater gen, at least in terms of details and customizability. It's very rare to see any two characters that look alike (unless they just settled for one of the presets).
In terms of gameplay it doesn't really stand out but it does have a few interesting features. You have 3 races with 2 classes in each. The Humans are the most basic in general, then you've got the Untamed who are basically the "beast race" of PW with the ability to take beast form or summon a pet (Venomancer class), and finally the Winged Elves who have the ability to fly right from the start of the game.
I agree with Dragonlor, PW's loot and inventory is very limited. Armour is categorized into 3 types: Heavy Plate (high physical resistance), Light (balanced physical and elemental resistance), and Cloth (high elemental resistance). Depending on how you develop your character in line with your class you'll be able to wear the type most appropriate to you and there are no class or race restrictions.
The weapons seem a bit more varied but not by much. They're not completely class-restricted but there are some weapon-specific skills that can only be used by certain classes. If you're an Archer and you have the strength and dexterity to wield a sword then you can but you won't have any special skills to use i.e. power attack etc. It's a good backup weapon in case you run out of arrows.
The environment in PW is vast, ranging from lush green pastures to snowy winterlands to barren deserts and more. It's a beautifully crafted world and being able to soar high above it all is fantastic. This is definitely one of PW's major strengths over other MMO games.
As an MMO, PW's real joy is when you play with others. I was lucky enough to meet and join with an awesome faction (a.k.a. guild) called Takada. They've helped me with some pretty tough quests and they're always there if I should ever require any guidance.
I haven't played very often recently (been busy with stuff) but I do like to occasionally head back in and adventure.
When you do sign up with PW I'm on the Lost City server. My character is called Kaze. Look me up! I'd love to see what your character will look like too!
