trusteft: Is the game like Arcanum only without the techs?
You mean, is it a top-down hack 'n slash game with a variety of enemies and techniques with which to fight them? Yes, I suppose so. I don't think the plot is as good, though.
trusteft: Do you have the option to fight the battles in turn based mode like in Arcanum/fallout?
Nope. It's all real-time, whether you like it or not. You can pause whenever you like, if that helps.
trusteft: If the battles can only be fought in real time, do you have to keep clicking on the enemy (1 click-1 swing of the sword) or is it fire and forget? (one click and it keeps hitting it till either is dead
You only have to click once to do a normal attack continuously, but spellcasting and the use of special abilities requires you to click each time you activate any of your abilities.
trusteft: Can you finish the game with only a magic or tank character or do you have to mix powers?
It's possible to finish the game with any kind of character, but some are harder to win with than others. You HAVE to specialize if you want to be effective in any given area, but you can be crippled by overspecialization. Generally speaking, your character needs to be able to fight at short range and long range, and heal itself. As long as you keep those bases covered, you can make most character types work... sorta...
trusteft: How long is the game?
As in, how many hours of play does it have? That's a tricky question to answer, because a lot of the game's early content is completely optional. If you were to go through the game doing every single quest you could find, I'd say it's much shorter than Arcanum or Divine Divinity, but larger than Fallout 1. The latter half of the game consists entirely of linear dungeons, you see, so it doesn't allow too much wandering around.