Fellas, I'm floored by this game.
The combat is pretty complex. Each weapon has different swing attacks based on your movement (like Mount&Blade). Different weapons also have different attack speeds and reach. The hitboxes are really precise (UNlike Mount&Blade) so the style of your swing, the length of your weapon and the enemy positioning are really emphasized. Enemies can duck under your swing, and you can do the same for some of their attacks. If you hit an enemy at just the right spot, you can even dismember him, either removing his offensive capability or causing him to bleed out and die early. The AI is pretty good and has a varied set of moves that will keep you on your toes.
This game does not fuck around with its encounters and you will constantly have to decide whether to fight or to run, but even running away can be challenging because most enemies run faster than you. Overall the game does a good job of avoiding scenarios where you can cheese to win, most encounters are challenging and satisfying to overcome whether it's through combat, stealth or simply running away (combat is most satisfying, of course).
Recovery items and equipment availability and durability are nicely balanced, you have to conscious about your resources but it's not strict to the point of frustration. Your inventory space is pretty limited, so you have to choose carefully what equipment to keep.
Level design is mostly linear, but with interconnecting areas that loop back into each other. You will often have more than one place to go which keeps traversing the levels interesting. To add to the variety, the levels also frequently transition between large open areas and tight spaces. The former is obviously required for flying around on your dragon companion, but even he has to squeeze in some cramped areas now and then. The game blends the action with hazards and traps to further keep the game varied and exciting (in case the whole "riding a dragon and gibbing enemies with its fire breath" thing isn't enough).
I downloaded the game from Nicoblog but MyAbandonware and The Iso Zone are also good sites for these old games. Make sure to update the game with the latest official patch (v445) and also get the AiO unofficial patch. The lens flare effect of the game seems prone to cause issues, so just disable it in the graphics menu.