Meh, turns out I'm too lazy to post extended thoughts, here's some medium ones.
I think it's better than guild wars but has some of the same inherent flaws. The ironic thing is that this game was meant to be more involving in combat, yet the result is that it is less involving. You can hold shift to block and tumble, but tumbling seems to have no benefit at all, in fact quite the opposite. Even in the first combat training mission, it tells you to tumble to avoid blows by the enemy. But even when you do so you get hit, even by that one guy. With shift to block, it's not like zelda. You swing and then there's a delay before you can block. Even when you block it doesn't work 100% of the time. So ultimately the combat is total chaos and you just sort of jam the right mouse button or turn on auto-attack.
I also find that the character class diversity is very puzzling. Rogues are for disarming traps and picking locks. OK, but only twice in the game so far have either of these things been useful. And one of those is just because the trap is difficult to get through, not impossible. 99% of the time a door is locked and you can't pick it, you have to get the key. So now the rogue is left as a damage dealer. Except that rogues focus on dex, and you will always miss if you focus on dex over str unless you choose the feat weapon finesse. So basically all rogues must have weapon finesse to be useful.
Then there's the sneak and hide thing. What use is that? I can sneak and hide and run by people maybe if I'm really lucky, then I find out I have to kill them as an objective or to get a key. Or magically a door will open if you kill them.
Warriors are great as tanks, but you don't want them in defensive stance holding down block unless you want the battle to last 40 years, because no one can actually hit the enemy except warrior types since to-hit is based on strength and only warrior types would have a lot of strength.
All that said, the game is still a lot of fun at this stage. The built-in voice chat and supreme ease of forming groups are a welcome change of pace from WoW. A minimap that actually works in a dungeon / instance is really nice. The fact that all treasure chests have an item pre-reserved for particular people makes haggling over treasure non-existent.
There appears to be a real story and some coherence to things. Even though a mission in a guy's basement that turns out to be 40,000 square feet underneath a tiny house is unrealistic, there still is some semblence that the story makes sense. I feel like every mission makes some sense as far as story goes, which is ironic because it seems like they develop it so minimally.
I'd say it's worth the $10 preorder fee. That's about the price of a movie. Haven't made up my mind about purchasing the full game yet, mostly because the combat seems so awful so far. But I have a feeling either it will start to make sense or it will get better. Hopefully.