The gameplay in this game is great. It definitely captures the feel of the genre. Lag, and small design flaws keep this game from getting a 10. The classes all seem extensively tested and balanced, though some classes are definitely easier to play than others. The storyline is mediocre, but is presented very well, though its important to note this is only midway through the game, so it might improve as it goes along. The various game systems are all designed great, and most of the interface is self-explanatory(though a few buttons confused me at first.) The open pvp system is debatable, I like it personally, but it can get old for some people if they continuously get ganked. There are small improvements to be made, for example a player shouldn't have to pick who to attack when there is only one enemy. For those looking for excellent gameplay, consider giving this game a try.
PVP Combat/Interacting with NPCs
Almost everything in this game is presented well, however I think the music could use a little work. The graphics and sounds are all reminiscent of classic rpgs, and the programming that ties everything together seems to be very good. Nothing else to say about this category really, the screenshots speak for themselves.
Various in-game systems
The obvious reason for the mediocre originality score is the fact that it borrows so much from older games, from graphical styles to presentation. It gets bonus points for modernizing the 8-bit theme though. Other than that, it had a lot of standard MMORPG quests, kill X number of mobs, collect X number of drops from mob, deliver this to X, however some of the quests, especially in the beginning, are delivered in cool and unique ways.
So thats my short(?) review. Definitely hop on the server and give it a try. You won't have to worry about pvp until you hit level 10, so check it out. I personally recommend a Ranger or Cleric, they're excellent classes to play, the latter is especially useful in groups. Hope to see you around!
P.S. This can be considered blame for why SNEStalgic may not be released in time.