dunsany: Speaking personally, I like the first one (not played the second). The voice acting is probably the worst thing about the game, tbh. The combat, magic system and skill system are pretty good and there's a massive world to explore as well. I've enjoyed it just as much as Oblivion - perhaps more, to be honest.
I had played the second game on the PS3 first (the original wasn't available on the PS3) and enjoyed it. On a whim, I grabbed the first game from here in spite of the "bad" reviews I'd seen. I have to say, I love this game. The first time the hero opened his mouth, my wife and I burst out laughing at the wooden acting and his anachronistic pseudo-Shakespearian dialog. Combat is button mashing at its finest, and the loot is varied.
Interesting to me are the various shrines and teleporters dotting the landscape - even out in the middle of nowhere. I rarely need to use potions as most monster mobs can be lured to a magic or health shrine. As long as the monsters can't one-shot you, you can sit there and wail on them all day without fear. Just last night I took out a Stone Dragon with a poisoned weapon while standing next to a health shrine. The dragon couldn't hit me fast enough to overcome the shrine's healing, and while I couldn't damage the dragon with my weapon, the poison eventually killed it.
The landscapes are varied, the weather effects are pretty nice, the graphics for the most part are great (some character and monster models are sometimes weird looking), and the music is pretty good. I ended up getting the second game here as well to have the complete set. Overall, I think I like the second game a little better, but I'm on my second playthrough of the first and having just as much fun as the first time around.
Flynn