There's light and shadow: Missing variety, an awful balancing and a horrible camera setting meet lots of customization, six different fighting styles, a huge amount of monsters and equipment.
Although it uses a tried and successful gameplay design - that of the Monster Hunter series - Lord of Arcana feels like a rushed, poor-man's version of Capcom's games. There's almost nothing original here and the few and far between clever ideas are wasted by some awkward design choices.
Lords of Arcana is the most fun when you have a couple of friends at hand that play the game as well. On your own, the game feels unbalanced and repetitive.
Even though its game system works, and you're the type of gamer that is patient and motivated, Lord of Arcana doesn't win from the comparison with Monster Hunter, from which it draws most of its design without trying to conceal it. Let's be clear : it doesn't match its model, in terms of fun nor content or variety, nor even in terms of combat or richness. We'd need to completely forget about Capcom's franchise in order to enjoy Lord of Arcana despite its shortcomings.