...then Two Worlds is the game for you! I see and hear many people trying to compare Two Worlds to Oblivion and frankly, I just don't think that's a fair comparison to make. When it comes to western RPGs (by western, I mean those that don't have a real Japanese flavor to them, like Final Fantasy, Blue Dragon and Infinite Undiscovery), I like to view things as being on one of two extremes: tactical RPG (like Oblivion and Morrowind) and experiential RPG (like Diablo and RuneScape). Reality Pump took Two Worlds in a different direction; they attempted to blend the two styles, and for the most part, I'd say it works. You still have the 3rd-person (and occasionally 1st-person) view of the character. You're directly in control of swinging your sword and casting spells. Unlike Oblivion, though, you have more of a Diablo-like inventory system and can stack items to improve them (which, albeit less realistic, makes collecting items a lot more fun).
Graphically, Two Worlds is up to par for what you should expect from the 360 at this point. It's not earth-shaking (even though it does look beautiful in HD), but you can still tell you're playing a 360 game. I'd say it at least matches the graphics of Oblivion, for the most part.
The audible aspect is a bit of a touchy issue for some people. Yes, the dialogue can be laughably bad at some points, but I personally view it as a welcome comic relief. It's humor seems unintentionally tongue-in-cheek. (Think of it like Mystery Science Theater 3000 or The Bard's Tale for original XBox.) Allow me to illustrate:
True Story: I'm playing Two Worlds and my character is running through the woods when he comes upon a guy standing outside a cottage. I run up to him and enter into a dialogue that goes something like this.
Man: "I have the finest horses in all of (such-and-such a place). Would you like to buy one?"
I didn't, at the time, so I exited dialogue... but accidentally pressed the button to draw my weapon (which is X, by the way. I'll never forget that now.) My character says something to the effect of "IT IS TIME TO DO BATTLE!" ...and that it was.
I tell you that to make one point - the dialogue is unintentionally funny, and if you can accept that, you'll enjoy the game - and segway to my next point. Your enemies are TOUGH in the begining of the game. In this instance, because it is similar to Oblivion, I will draw a comparison. Two Worlds doesn't level enemies up with you, like Oblivion does, meaning that when you're level 1 in Two Worlds, a villager will WHOOP YOU. (I got mine handed to me by the horse guy.) On the same token, once you've level up sufficiently, you can return and exact your revenge like the barbarian you are! I deffinately found this to be an improvement over Oblivion's system of leveling up enemies as you leveled up. (It felt like you were never getting anything accomplished.)
I will admit, I haven't tried the online mode yet. I'm waiting for a friend to make some money and buy the game as well. I hear it's a little buggy online, but hopefully it's only minor issues that can be worked out with updates via XBL.
Overall, my experience with the game has been positive. I think Diablo fans who would like a little more control over their character, or Oblivion fans who really wanted to just hack and slash, will really enjoy this game. It's not brimming with excitement for the first half hour or so, but if you give it a little time, it really becomes quite fun. :)
I hope my review has helped. Sorry for the less-than-formal style.