I paid $7.50 for it last year (75% off sale on steam). Best bang for my buck in memory. It may not be everyone's cup o tea, but I personally found the combat to be highly enjoyable, especially when the somewhat repetetive music is replaced with a podcast or pandora. It has probably the only skill-based medieval combat system which actually works well. I've managed to get several hundred hours of gameplay out of it.
The graphics aren't great, although they are improving a bit in the announced exansion (Warlords or something like that). Quests are generally pretty generic, as are most of the non-combat parts of the game. But, as I said before, those parts don't matter, as the combat is the fun part, and the part you will probably be spending numerous enjoyable hours in.
Oh, and Tkins, you can have both on your system; Impulse and Steam won't eat each other when you turn your back or anything.