I'm looking for some old-school RPG goodness, but I'm looking for something that isn't ball bustingly hard. Been playing some Wizardry lately, so I'm looking for something that isn't frustratingly hard. Does Arkania fit the bill? Thanks.

Arkania is pretty hard, have you checked out might and magic?

Yeah, I've already got the MM GOG bundle. Had a blast with 3. Started playing 4&5, but decided to take a break from it since it was a bit too similar to 3. 6 I just couldn't get in it at all. Great games, all in all, but maybe a bit TOO easy.
I guess I just want to play a cRPG with better character customization than MM3-5. Maybe even a bit harder, but not a frustrating re-load fest.

FWIW RoA isn't necessarily hard in the way that you run into enemies, that turn the game into a constant reload fest. For the most part, combat is managable and so is everything else, once you get a grasp for how it works. Puzzles can be a bit tricky at times, but nothing you couldn't look up, if all else fails. The difficulty comes from the complexity of the game and a relatively high (although not punishingly so) learning curve at the beginning. For example, I switched to RoA directly from MM4/5 and was wondering, if my party would ever be able to regain health lost back (it will be, actually).
Now, the series is still approachable in its complexity, it's just really in love with detail and a bad fit, if you just want to hop into a game and play around. However, if you're willing to dedicate to the series a bit, it actually might be a really good fit for you, since character customization is a very strong point of the series imo.

Well, that's pretty much what I wanted to know. Guess I'll give RoA1 a look.

RoA is pretty hard also because of the in-game time limit that is placed forcing you to not waste too much time if you want to finish the game.

This game threw me off at the first town! All the buildings looked identical, and half of them just had the same guy threatening me with a meathook (heh, good times). A little tip for getting started: jot down what the different coloured squares on the town map represent, or have a print-out of the page from the manual, nearby. It'll save you from door-knocking every house.
I'd really recommend keeping that manual handy. It's definitely not something you can leap straght into, but it's an epic adventure once the ball get's rolling.

Just setting up your characters is hard if you want good stats to start with. I find the game quite hard, but enjoyable at the same time. Once you get past the setup I think the game becomes much more fun; unless of course you like that type of thing. :o)

This website gives a good review of Arkania. That's what convinced me to buy these games.
I have not stated to play yet, but I gather that with this low spoiler guide, starting the game can be easier for a new user, without spoiling the fun.