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Beta? I'd say alpha.
Dirty network code (this is not standard beta lag, this game is performing network enumeration way too much).
Unpolished interface.
Cumbersome control scheme.
Poor charecter integration (game entities dont seem to blend into the world).
Honestly, I didnt get past these issues. This game seems like it could have alot to offer. It may just fill the fast paced dungeon crawl gap in the current lineup of MMO's.
It is however in no way ready for beta.