This game looks more awesome by the minute. It looks like Elder Scrolls world meets the combat of Dynasty Warriors or God of War. Except with more fleshed out spells.
Its an open class system but with a twist with destinies. As you put points in skills it unlocks destinies which is like a class "framework" that can be equipped and changed. This framework provides passive bonuses and alters the mechanics of skills bought, access to armor and weapon types and also provides new skills to use. It is the best version of an open skill system I have seen to date.
I just hope that 38 studios doesn't bankrupt itself with its vaporware mmo before this game can be released.
30 minute gameplay walk through: