OK. I am about half way through the game.
Pros:
Battle system is awesome. I love the twitch combat and the character animations are supurb.
Rune system. I REALLY like the plug and play aspect of the weapons and runes for armor/weaps and the "charms"? for questers.
Graphics are pretty top knotch. I feel like there was certainly a good over all deisgn for the environments and the NPCs etc.
Cons:
Storyline isn't all that great (alteast so far). I am comparing to Mass Effect which has a hell of a storyline.
Fights get repetitive. Even with all the customizations, I still find myself pretty much executing the same manuevers over and over. This is still better than FF-ish menu selections, but it does get tedious.
Death scene is a pain in the ass. Valkyrie is cool and all, but when I die (sometimes over and over) I DO NOT want to wait for 30 seconds to see the animation EVERY time.
7ish out of 10.