NoNewTaleToTell: Two Worlds 1 is actually pretty enjoyable. Some areas of the game world are beautiful, there is an insane amount of unique loot (I spent over 30 hours in the game and was constantly finding new stuff even at the end), a fun crafting system (combine two identical items to create a stronger version, magic works the same way via cards) and a huge world. Oh and you can use your horse as a pack animal AND call it if you're near it.
The biggest issues with Two Worlds is that the writing isn't particularly good, there aren't a ton of quests compared to the sheer size of the game world and there are few unique NPCs. Plus the music isn't that good.
Two Worlds 2 has VASTLY improved production values in all aspects (graphics, music, voice acting etc) and much much better writing from what I've seen, but it doesn't have the same charm of the first game, the fighting system has been overhauled a bit (for better or worse), the new UI is atrocious and it's no longer a true open world. It also retconned the ending of the first game, which is fairly annoying.
I agree with your take on part 1. I was surprised that the music by Harold Faltermeyer was so... generic. It's not bad or annoying, just... not very memorably. Also I found the difficulty really going up and down... very strange balancing. I not the "looter" type - that's why I rarely play ARPGs. I prefer a good story and quests, and looking forward to that one +5 Blade of Extreme Slaying that the merchant sells for 50,000 gold (while I have 100...). :-)
Actually I liked part 2 quite a lot. Combat is fun, the magic system is just outright crazy (perfect stuff for tinkerers, so many possibilities!). It's actually quite open until you run into the prelude to the finale. Animations are not that good, esp. in combat, and that huge continent you're looking forward to is actually playable only in two small areas (see: finale). There's a mod that unlocks it, but since there is no story/quest content there it's only useful for looting :-/
Also the final battle is total shit. Like crappy fucking kickthedevelopersintheface shit.
The expansion (Pirates of the Flying Fortress) again improves a lot over the main game. It's actually a self-contained story, and I would really recommend it. It has no real weaknesses, is beautiful, and the soundtrack is of the best I've ever heard.
AgentBirdnest: Beautiful :-o
I only played about 15 hours of it, 2 years ago, but it looks like Skyrim? e__ô
Yeah, of course... Time sink par excellance...
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NoNewTaleToTell: Two Worlds 1 is actually pretty enjoyable. Some areas of the game world are beautiful, there is an insane amount of unique loot (I spent over 30 hours in the game and was constantly finding new stuff even at the end), a fun crafting system (combine two identical items to create a stronger version, magic works the same way via cards) and a huge world. Oh and you can use your horse as a pack animal AND call it if you're near it. *Two Worlds suddenly moves up a few places in my backlog* 
