First off, I got addicted to LMB way back with "Shards of Honor", so I'm a fairly die-hard fan. She never writes the same book twice, but still produces fresh, thoughtful, great reads. She's a rare author I measure only against herself. Okay, that said...
It took me a bit to adjust to her fantasies but they're well worth it; different from her Vor series, but just as good in their own way. The worldbuilding has LMB's trademark vividness, and she spins great stories from it. Chalion/Ibra and the world of the the Five Gods lost some of its internal cohesiveness in this one, though. I couldn't place it in time or location, and some basic underpinnings became confusing with the introduction of an ancient form of magic. Many themes in this series explore how individuals respond to supernatural/divine challenges. Even after rereading Hallowed Hunt, I'm still a bit foggy about how the ancient forest magic fits in with the rest.
The main characters are also weirdly flat for LMB; 'weirdly' because her characterizations usually are so vivid they jump off the page. Several supporting characters--a roistering sailor/prince, a divine who vents chaos as an adaptation to pregnancy--spring to life immediately. The hero's history and travails are well limned but he still remained muted for me. The heroine, who comes late to spirit-invasion--and during a near rape at that--remains almost an outline of a character. Why and how she came by her extraodinary acceptance of threatening, bizarre things that happen to her are never really explained.
These caveats really are fairly minor. A less-than-great Bujold is still excellent reading. Her gorgeous use of language is still intact, as is her sly, wry, sideways humor. I bought the book and don't regret the purchase. I'm sure I'll reread it again, just with less enjoyment than "Chalion" and "Paladin". I hope LMB revisists this world, because it still holds some heady potential.
It's good tale, and most readers would enjoy it on its own merits. Devoted Bujold fans may be left a bit flat, but even her rare stumbles are still miles beyond much of what's out there.