I just played Two Worlds just these past few days and here is my rundown on the game
Graphics-8
I didn't have a problem with the graphics, I'm on a non-HDTV so I had no problems playing the game, though the game would chug a few times, but other than that the graphics were fair. I would rate the graphics basically an average 360 game that the inexperience developer didn't tap into the horse power of the 360. The loading times are perfect. I would get a chug like I said above but other than that the game played awesome on graphics.
Story-7
The story to me isn't that interesting, because I'm more into JRPG's. When I play a Western RPG I generally just care more about the gameplay then the story itself, other than that the story is rather basic. A guy is trying to find his sister and protect her and he has to carry out all these missions to get the answers and his sister Kira back. Good, average story not a problem with me.
Sound-8.5
Awesome, I could here all the sound effects to the birds chirping and till the crickets chirping at the night time. I enjoyed the voice work. No problem here so far.
Gameplay-9.5
The gameplay is generally the meat of Two Worlds. Its Oblivion but in a third-person perspective. The only annoying thing I hated at first was the battle system. It was annoying how I had to move my character away from my enemies and there wasn't any lock-on. Basically it was not as smooth as Oblivion, but I got use to the battle system within an a half-hour. The controls are spot on, no problems there, the menus and maps are annoying a little but you get use to the menus as the game progresses.
Overall-8
I had some problems with the game at the beginning. I tried it at the beginning 3 times and I quit cause I didn't like the game battle system at all. But when I popped the game in for the 4th time I was hooked I couldn't stuff the customization is unlimited. My character is at level 5 currently as I'm typing this review. But I know in the coming hours I will get hooked again. As a matter of fact, I feel like playing it now. Just a heads up this isn't a Oblivion-killer as the box art said. But its a little snack for those who what a little bit more of some Western-style RPG's. I recommend to those who like all the Elder Scrolls series, you will not be disappointed.