(Note that I've posted a more detailed version of this review on my blog.)
As someone who desperately wants to play old OSR modules and campaigns but doesn't really want to go quite all the way back to pure (or even slightly greased-up) old-school mechanics, this is an excellent, more modern feeling system. No judgement on the term modern, btw, I like a lot of old stuff. For me, the biggest issue is that it's very hard to sell my more FATE-Accelerated crew on the old stuff, but this game gives such an intriguing take on it that I think I will be able to.
I haven't played it much other than running a few little combats and encounters, but it really seems like fun, especially the bidding system for challenges and chases. I'm almost certainly going to steal that for other games I'm planning to run, regardless of system. My only concern is how well this system would scale to really high -level adventures. Not saying that it wouldn't, but that that would be my concern with running it long-term or with using it to run existing high level modules.
Very nice, very tight and clear writing. About the only things I noticed were the odd wrong words/spelling errors, such as quite for quiet a couple times and one spot where I think the author meant to say "circumscribed" but instead wrote "circumcised!"
Overall this is a really nice book, and one that made me think: I want to try this RIGHT NOW, which is my mark for a 5 star game. Definitely worth the purchase. I also ordered the POD from the author's site (via Lulu).
Will report back when I've had a chance to play it, but for now it's a 5-star based on my read and experiments.