***THERE WILL BE SOME SPOILERS HERE***
Many things have already been said about the many elements on this game. To summarize my view on this elements:
Gameplay: Poor, it tries to implement a SPR (scissors, paper, rock) system, wich is not fun compatible with an action RPG, it's not as dumb as Diablo, but it becomes a button masher on most occassions. One companion at the time is becoming annoying, apparently Bioware is going to do the same on Mass Effect. Also the Good - Evil mechanic felt analogue to the one on KOTOR, just dumbed down because it doesn't have much more substantial effect on the outcome.
Graphics: The graphics are at par with the games of the time, they're good and it's one of those games in wich bloom really brings things to life.
Design: One of the bests I've ever seen, from the characters to the scenery. The only point in wich it fails is on the underused lethal scenary, wich is great on the first fight by the beach, as an example, but later disappears totally or is underused. The breakable scenary is great during fights, and more of it would have been even greater. The whole backgroud history Bioware has created is pretty good, kudos to that.
Plot: The plot starts cheesy, and continues pretty cheesy with some good interludiums on Tien's Landing, but most of it is cheesy. The ending, wich feels rushed, is a proposterous cheap shot. And this is the main rollereyes feature of the game, forget combat and dialog. The game could have ended as an average cheesy RPG with you killing the Emperor, instead your old master all of the sudden decides to betray you, it feels arbitrary, and it's clearly an ad-hoc device to advance the plot without any real sense of coherence. Really I fail to see how this game has a good story at all specially considering the last portions...
Dialog: The dialog is rounded to medium. There's points in wich it stands out at the hights of Vampire Bloodlines or Fallout, and then there's times in wich not even a 5 year old could withstand the temptation of rolling his eyes. At best the dialog is pretty cheesy, at worst it's proposterous, following the declining of the plot it gives you an arbitrary ridiculous ending in wich you CHOOSE to be killed, my only reaction to that was:

--- Really there was no need for that.
Replay: Two times as best, if you like to see all the possible ways to end some mission, but you can also save and replay that save if you want (considering that there isn't lasting effects for your actions on previous iterances and the endings are totally arbitrary and disconnected). So there isn't much replay value unless you give some consideration to the other cheap shot that is unlockable content on an RPG game, including Jade Master difficulty.