It is insanely fun. There are an ass load of choices for every step of character creation (200 skills), combat allows you to kick ass and uses a point system, there are over 300 spells, and the horror/insanity system is very well done for a fantasy setting. It is a big book with 600 pages, but it is all useful and there is a very helpful and detailed table of context and index.
The way the game plays there are light hearted and engaging parts accented by terrific, horrific, and serious moments. For extended play you start to care for your character very much to say the least. You get to go to an asylum and role-play your character talking to a shrink.
It isn't for everyone, but it is a fun game for those who like fantasy horror and it is actually made for fantasy horror, unlike d20. This game feels perfectly at home in Ravenloft. I would go as far to say that Ravenloft has been waiting for this game.