Two Worlds isn't a masterpiece, but it is entertaining. It's deep - the side quests massively outweigh the main game, and what you can get up to with items is nearly as interesting as what you can do in Oblivion.
Just as with Bethesda's monster, you can lose happy hours tinkering with the way things work. Sadly, it's also pretty flawed, and the freeform approach is hindered by a world that's both underpopulated and underfeatured. It's easy to appreciate and enjoy, but difficult to love.