It's not FPS; game play is entirely in 3rd person view. The scope of the game, broad story and cut-scenes remind me of Oblivion. Graphics are good, but not as nice as Oblivion on the 360, IMO. It's not an open world like Oblivion; it's more like Fable II with areas that you travel between.
You start as one of three races, (human, elf or dwarf), and one of three classes (warrior, mage, rogue). The race/class combination you select at the start of the game will determine which of six unique opening story lines you will play. In addition to your own character, you can recruit additional party members; you typically control a party of four at any given time.
During fights, you can switch between characters at will, to cast spells with your mage for example, then switch to your warrior to bash skulls. Party members not under your direct control at any given moment are AI, but you can assign each party member a series of standing conditional orders, such as having your mage heal any party member whose health drops below a specified level.
Battles can get frantic, but bringing up the radial skills/talents/spells menu freezes the action, allowing you time to ponder what to do. Battles can sometimes get large, with a dozen or more participants per side.
The story is very epic, and I've enjoyed watching how my in-game decision are affecting the way things are playing out.
Voice acting is generally very good. Credits feature Claudia Black as Morrigan, a mage who joins your group early in the game. Kate Mulgrew, Tim Curry and Tim Russ also contributed voices.
I'm looking forward to seeing the game's finale, and I'll probably want to give it at least one more play through.