After it is patched up, most of the bugginess is gone - thanks God. I had this when it came out, and it was virtually unplayable till the community got together and made it workable. Now, though, years later, it's a great game, in the Fallout vein, with a slightly less anal-retentive combat system.
Biggest issues that might make the game annoying to some people:
1 - Spellcasters are so overpowered in comparison to Gunslingers that it is not funny.
2 - Real Time Combat (RTC) is bogus... be prepared to play this turn based or die a lot.
3 - Autosave is not going to happen as much as in modern games... frankly I don't remember if it does it at all - so remember to save often.
The graphics are decent for the time, and the music is better than many games made today. The story is beautiful, and works a tried and true tech vs magic story into something original and creative.
If you like Steampunk as a genre, you'll love this game. If you hate Steampunk, this may not be for you. If you just like a quality RPG, snatch this up now and love life...