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I'm coming from a few hundred hours of LoL. I saw this game, read the posts (which don't say much), and decided to give it a shot.
From my first experience:
I can't tell if the scaling for my abilities is from spell or attack power (the ability tool-tip lists a flat number, no additions of any kind...and the site just has a purple colored ratio). Navigating the items is a bit troublesome, though the "favorite item" tab is nice, it's annoying that I have to list something so important as pots in it.
When someone is killed, the "portrait box" is a flat blue. This moreso hurts when a "spree" is announced in a low level game, because there're a lot of doubles.
The "revive wait" is odd, because the screen stays the same, and doesn't give any sort of notice when you're respawned (I like to spend the down time looking at the items, so I can plan a potential build).
The second "super ability" is a nice touch. A one use ability that can either set up for an early snowball, or turn a late-game teamfight, is nice. I also enjoy the 5's map. Very large jungle areas, with many camps, and many bushes for potential ganks and such. I haven't been able to fully explore the features that seem similar to "Runes/Masteries" yet, though it seems nice at a first look.
The combat feels more like the DotA videos I've watched (was debating getting in to it for a while), rather than LoL.
My queue time for first game was roughly 10 min, which left a sour taste in my mouth when I saw that the skill level of most people was...lackluster (I was wrong to assume low-levels were people trying this game out to compare to LoL or DotA).
In all, this game definately lacks a certain level of polish, but that's forgivable considering its age (many veterans of LoL and DotA have told me about the early days of those games). It doesn't feel like a rip-off, but it's not a unique butterfly either. I'm enjoying it enough to keep trying.
Warning to all LoL/DotA vets giving this game a shot:
You start out at low level, so there will be many nubs. Be forgiving.