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I've pretty much gone through every square inch of this game. While I definitely have some strong opinions on whether the enormous amount of Faxion advertising here is effective or not, I'm going to hold off on a detailed review until after the major content patch in the game tomorrow. That being said, as a long time player and the user of a lv 60 (the level cap) character who has actually participated in the heaven vs hell zone control battles that are repeatedly advertised on this site, I thought I would give a brief perspective on how the game is working out for me.
-Group PvP, if you manage to get involved in it, is an amazingly fun and addictive experience
-Battles are fast paced, action oriented, and can take place anywhere in the environment
-Generally a very friendly and helpful community, there is little of the guild paranoia that seems to consume most MMOs I've played
-Gorgeous architecture and spell effects
-Very easy to get around the game world, once you get access to teleportation stones and wings
-Being able to completely customize your character means you can spend countless hours fine tuning your build to suit your strategy
-Significant slowdown issues on budget computers
-Very little incentive for new or even mid-leveled players to actually participate in PvP
-Not enough tutorials to help players understand the basic game mechanics
-Not enough music, period. Personally I do not like listening to ambient noise 90% of the time
-Not enough mid to end game PvE content
-Class balancing tends to change in extremes every few patches, with one "flavor of the month" being replaced by another set of overpowered abilities which dominates PvP
The developers of this game are generally willing to interact on a personal level with players much more so than in most MMOs. There are still bugs and environmental issues with the game, but the devs have been consistent in identifying which bugs they want to fix and quickly implementing these fixes within the next patch or two. I believe that the UTV devs are very much determined to make this the best free PvP MMO experience they possibly can by the time this game finishes with Open Beta, and that they would greatly appreciate your support and feedback on the forums.
So is this game actually worth playing? I think so. It's the best free MMO I've played thus far (and I've played a lot) and can be an absolute blast once you get into the organized zone control battles. You can have a lot of fun in this game too, but I strongly recommend you do the following once you start playing: A. ask veterans for help, as they are generally willing to give advice and large quantities of gold to new players, B. read my guides for making a decent character at early levels, and C. try to find someone to party with, as you will gain EXP much more quickly that way.
Advice to new players? Don't start as a Warrior. Maybe this will change in a later patch, but in my view (and every high level warrior I've talked to) spellcasters have consistently had a far easier time with PvE since the beginning of the Closed Beta.
If you have any questions on this game- basically anything at all- I can answer honestly to the best of my ability.