I still have a hard copy of this game and I cannot tell you how many times I've played it. It is fun from the moment you begin selecting your party, as the depth of character revealed by the selection process means you can tailor the game for a very humorous ride. This is a game where a well balanced party is needed.
The characters you meet along the way, the structure of the quests are well thought out/constructed and fun.
Yes, some of the battles can be long and hard, but the trick is not to go to an area that steps the game up a gear until you are ready. Then the battles remain challenging and, when you need to revisit areas, the re-spawning of critters isn't too time consuming. If you are in a battle that is too hard, you can choose to run away, plus, eventually there are points you can teleport to and from. So there is perhaps more choice in this department than some others have indicated.
The spell casting in this is just super - it is a very visual affair and the system and range of spells is effective.
It's also worth commenting on the weapons and armour that can be created. Gathering the components can be quite a challenge, but the items are well worth the effort.
Then there are the dungeons that hark back to earlier Wizardry games and require grid paper to chart your progress around. Then there are the Easter Eggs.....
This was a stunning end to the Wizardry series and Ray Bradbury's. Stop reading and just buy it! :D