I started playing about with this this morning (after sorting out a weird PhysX problem).
I've only done part of the tutorial so far, but I'm actually rather impressed.
You will discover that the pretty cutscenes and the witty dialogues end with the tutorial. It is what turned me off. That, and the fact that nothing respawns.
Clearing an area and seeing that it remains clean after your passage may be satisfying to some, but it implies an avalanche of bad things altogether.
The list of Causes and Effects is long and intricated like an ant farm, but I will give you the short version: it starts with having only a finite amount of Exp(erience) to collect from the world.
It leads to the need of seeking new life (and quests) in places progressively more remote than the previous.
It continues with the possibility to find many a mob that is too much for you at the moment.
It goes on with the need to remember what-you-are-leaving-where.
It culminates in the frustration of having to take manual notes of everything, because the map is big and the mobs to remember (and the objects to pick) pile up quickly and are easily forgotten.
Exploration ceases to be a pleasant activity and becomes a chore. After a while you get tired of traversing miles of emptiness and it just feels like you are going to work.
The cherry on top (in this specific game) is that the big world is far smaller than you are made to believe.
How to explain this
hmm..... do you play Skyrim? If Skyrim as you know it was made like Two Worlds II, when you opened the world map you would not just see the northern region of Skyrim, but the whole continent of Tamriel.
The catch? -> You think you can visit any place in Tamriel, but you are unknowingly confined to Skyrim.