Played an hour yesterday before going to bed.
The combat is a lot closer to an Action game like Devil May Cry or God of War. You do different combos depending on how many and in which order you click your 2 mouse buttons (left is fast attack, right is strong attack). The environement can be played with. A lot of stuff can be destroyed, picked up, thrown, used as an improvised weapon, etc. A boulder to the face does a ton of damage.
The game is heavily instanced, kind of like Guild Wars. When you're in town, you can chose the version of the zone you're in (1 to 100). Every NPC is in a house, which you have to enter (load screen).
Missions are done by going to the docks and interracting with a Ship Panel. This Ship board works as a party organiser for missions (called Battles IG). There you'll be able to see if there's a group forming up for different missions you have. Groups are 4-players max. When joining a group (or Ship), you'll be teleported to a small instance with the others of your group that lets you walk around on a small portion of a dock and a small ship, and meet your party members of course. If there's no Ship on the board, you have the option of starting a new one and wait for players to join, or go right away Rambo style. There's also an option when forming a new group for a mission that lets you put special Oaths on the mission, kind of like a bet. If you succeed, you'll win 2 times your bet, if you don't, you lose what you betted. Bets can be things like finishing the mission under a certain amount of time.
Once you arrive in the combat zone, you have to make your way to the end of the zone and beat the boss (so far thats all that I've had to do). There's no real exploration to do, but simply a lot of mouse clicking to get to the end as fast as possible.
The gear seems to be acquired through quest rewards, vendors, or crafting. There is a time stat on items, something like "last until". That lets you foresee that there will indeed be cash shop items with durations on them although the regular gear is "Unlimited".
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So far I'm not really impressed with what I've seen. The gameplay is very repetitive (you'll be clicking your mouse a thousand time per hour). The way you navigate through the world (if you can call that a world) is just not immersive at all. A lot of loadscreens and too little player interaction makes it feel empty and bland.
The first impression I had after playing a couple of missions did not make me want to play more of it, so it's a bit dissapointing. I may try it again later, but so far it doesn't stand in the "Looking forward to" collumn anymore.