I'm playing through it now. It's quite good and has some pretty neat ideas and content, but there's a bit too much empty space, it's riddled with spelling and grammatical errors, and the challenge is annoyingly unbalanced at times - monsters just seem haphazardly thrown around the map, so weak monsters that waste your time are mixed in with absurdly powerful monsters like the ones DaveO-MM described (some of which you may just have to avoid and come back for later). The "jump and shoot" trick that Dave mentions is vital, since some otherwise easily-killed monsters have outrageously destructive melee attacks.
You might want some heavier melee muscle. Even heavily buffed, many of the monsters I fight can hardly be scratched by anyone but my knight and barbarian.
Also, if you create your own characters, you should probably spend some time rolling up decent stats. Unlike World of Xeen, you won't have many opportunities to increase your stats until later in the game, and even then there aren't all that many.
Be prepared to buff your party as much as you can. Even early on, the game pretty much assumes that you're doing this. If you don't, you'll have a much harder time, and some monsters may just be unkillable.
It probably sounds like I'm just complaining here, but while it's not as good as MM3 or World of Xeen, it's a solid fan game and well worth playing.
DaveO-MM: There are unfortunately, a lot of bugs in this game especially for saving Sand Town. I never could save the people there(unless you have to wait a long time to see the results).
I was able to save Sand Town, but in addition to clearing out the sorceress' tower (I found 30 gems), I had to comb through every inch of the surrounding territory and kill absolutely everything, including the minotaurs and a vulture roc. Once I finished that, the town was restored immediately. So, it's not time-limited as far as I can tell, but that's not to say you didn't hit some other bug instead.