I have run this game more than any other in the past two years (and ran Dragon Age more than most other games in the few years before that) and I really do like this system! It gives you a basic D&D like game without all the B.S. like Alignments (none), encumbrance (none.. just use common sense), or spell slots (there are spells you know, and you use magic points to use them). I also like how you can play an orc, and that half breeds are "optional" (I personally think that those things were just min-max tools that usually don't live up to a story that the player is supposed to roleplay). And I like their focus rules vs. the standard skill points of other games (tho, they do have too many focuses).
What makes the game more modern is the stunt point system, which works really well with combat, and magic, but is a bit awkward with roleplaying, and exploration (those two can work, but your group has to really try to make it work well).
For the size of the book, it has a good selection of monsters/opponents, magic items, and spells (tho, there are some spells are are kind of worthless, like "Arcane Spring"). I tell my players to level up (and it actually has that as an optional rule), but I do like how each encounter has an X.P. amount based off of difficulty, instead of having to calculate that stuff. It seems more organic. But.. just like with D&D and all of it's clones, I think 20 levels is too much (13th Age has it right on that).
The art is also great (it's a mix of art from some of their other games, and some made just for Fantasy AGE). And to top it off: It comes with a great adventure! Since the days that they had the Warhammer license, they write great adventures, and "Adventure in Highfalls Swale is no exception."
The bad things: Combat just takes too long. It is a combo of most good opponents armor rating (which you always subtract from most damage), and the small amount of damage most people can do. This usually leaves you with long combats (compare it to Pathfinder length), or having to limit the amount of opponents (or modifying opponents if the story calls for several). To me, this really gets annoying after a while (I had to use home brew rules of bonus damage, and mob/mook type of rules that I borrowed from other games like Fate and 13th Age).
The other bad thing... and to be honest, this was not a problem for me, but I can see people coming from D&D or Pathfinder finding this an issue: Not a lot of variety compared to those two other games. There are only three classes. You do end up customizing your class with the options you take (especially after 4th level when you get your first specialty), but I feel the game drives the story more than trying to give you a bunch of fluff (and that is fine with me).
So, my only real complaint is that combat takes too long because of the limited amount of damage one can do to someone with good armor. But if you are wanting an easy system with some neat gimmicks (sunt point system), and more modern rules that cut out the old school trappings like Alignment & spell slots, I highly recommend this game!