They're a little wonky, but no more so than most games that use this perspective. And honestly, I think the advantages of this perspective outweigh the disadvantages. Overall, the controls aren't nearly as bad as I'd been led to fear, and I'm enjoying the hell out of this game.
Obscure has kind of mediocre reviews, and I feel like the controls are probably a large part of that. Since I find the controls tolerable, I think it's a pretty good game. Not sorry I spent $10 on it at all. I may even pick up the sequel (or wait to see if GOG eventually releases it).

Just picked this up during the promo. Can't say I liked the keyboard controls so I plugged in a 360 controller and things weren't getting much better. Anyways...found a little gem of a program called Xpadder which lets you remap even joystick (or analog sticks) axis to keyboard strokes. Real lifesaver for this game IMO. Easy to switch back and forth between inventories.
Now I'm loving this game. Little difficult though, even on easy.

Mind uploading the xpadder config file? :)

Thanks for the Xpadder info there, I've a feeling it's going to become useful later on for me.