ive been playing it for the last two months, about an hour or two a day. i really like it.
while cucumba is right, it doesnt scratch the surface of the true PnP version, it never could. if you want PnP, play PnP.
it does great justice to the party system, and the entire game revolves around building a party from friends, joining a guild, or just walking into a tavern and finding people to play with. there are very few dungeons you can solo.
and of all the MMO's ive played, this one has the nicest, most helpful community. its rare for someone to actually be rude, most times they just wont party with you if they arent interested. the only real class that is in perminent high demand, is the cleric class, since they are the major healers in the game. (but now im an 8th lvl paladin i can rock the healing wand and lay on hands skills o/)
its difficult to get "UBER" weapons. in fact ive only just gotten a weapon that could be considdered uber inside the game. remembering that there are thousands of players, magical weapons will be less rare than in PnP. however theyve balanced that nicely too. for example, if your party's highest level is 5, and your doing a level 8 quest (good luck btw, we got slaughtered hehe) then the loot you recieve reflects the heroism of your acts.
much like if your a level 8 party doing a level 5 quest, your more likely to get a masterwork sword, than my oh so nice +3 frost bastard sword of lesser undead bane >;]
that being said, theres a lot theyve left out for later releases, which is good, and next month im looking forward to the prestige classes they are going to be introducing.
try to remember that the game isnt about grinding, its aimed more toward casual players.