It basically looks like a very polished Gothic III, but I'm fine with that. Gothic III's models were nothing to write home about, but the environments looked much better than Oblivion's. Considering their budget is probably minimal compared to Bethesda's or BioWare's, it looks amazing.
I don't think I'll get the CE of this game, I'll be getting the CE of Divinity 2 (English version) instead. That game is/was Game of the Year for me.