When I first started the game, I was disappointed because of the slim choices for character customization (this doesn't matter later in the game because of helmets). The voice acting is just great (German and English), the music creates a nice atmosphere and the graphics are good enough.
The most amazing part is the combat and moves the character does, without the requirement for the user to break his fingers or remember 100 key combinations. The combat is with action, but you rarely use more than 1-3 keys (+WASD) really (one of the three keys is jump and the other where you put your health potion). Still, if you jump and hold the attack you do a special move, if you stand and attack you do some form of cleave. Then you have some abilities on buttons 1-0 and you can change into a dragon later with 'Q', which gives you a different mapping of all abilities 1-0. Input is very intuitive.
Story telling is just superb, sometimes you laugh, sometimes you go back and try other dialogue choices because you don't want something to happen. I'll not say too much here...
Once you become a dragon and have your tower, the world of Rivallon appears to you like a playground. Your choices are plenty on where or how to proceed. Just see everything before as a very long tutorial.
After I finished the original game, there were lots and long video cut-scenes. I'll obviously not say what has happened.
You end up in Aleroth with no way out. Here the absolute cool thing about the Developer's Cut! You start with your creature and your dragon tower still intact, I don't know about the others but my choices for enchanter, necromancer, skill-trainer and alchemist are still loyal at my side (the body parts merchant ran off, though).
My first impression was, if they didn't went over the top with the funny quests here? I mean seriously: 'Hammers and Kabeljau' (she is hilarious, though)? But you really enjoy the dialogues and quests if you still have the first part fresh in memory and actual read some of the books. Later on the quests become more serious again, like how to make a 'Willi' ;)
You can now find/buy even more 'red' items 'Einzigartig' as successor to 'Episch' with up to three enchantments and also complete new armour sets. First thing I did was checking out all the merchants...
You are seriously overpowered for some encounters and others, where I ended up in a kind of stalemate. It couldn't hurt me enough to kill and I didn't do enough damage to kill it before it heals up again (with roughly 400melee and 300 magic damage using a two-handed sword).
I am level 42 at the moment and still going strong, this game is great :)

> The most amazing part is the combat and moves the character does, without the requirement for the user to break his fingers or remember 100 key combinations. The combat is with action, but you rarely use more than 1-3 keys

That part of the game impressed the hell out of me.

I'm not good at action RPGS but, playing this game, I could do fancy looking moves I see in videos of other games.