It's back and it's just as mediocre as ever. I recently got my hands on the demo (which I had to run on low because my computer's getting old).
It's the same fun hack a slash clickfest that it's always been, with a graphical overhaul. Sacred 1 had the crappy isometric feel to it, at least this is fully 3d. The combat is fun, if stilted and tedious. But I've been dying for a brainless, fun RPG and this definitely fits the bill.
The character development seems a bit more complex than last time - you get your deity's ability plus a bunch of skills to choose from plus your combat abilities (which themselves seem customizable in some strange kind of tech tree that I haven't unlocked yet) plus slots for 3 gems that you can carry with you in addition to your gear.
The Seraphim is as charming as ever, occassionally delivering one-liners with her attacks. The Temple Guardian and Shadow Warrior classes seem entertaining, but I'm really going to miss the Vampire. :(
The game itself is decent, but it's plagued with bugs. For starters, the camera sucks big time. It'll clip through terrain and objects (especially annoying in tight quarters, like in houses and caves), yet also gets obscured all the time by branches. Combined with terrible lighting, it makes for an extremely aesthetically displeasing experience. Also, the game stutters and briefly freezes every 15 minutes or so, but I'll be generous and chalk it up to my crappy computer.
I just hope nothing's wrong with the horses (in Sacred 1, you could call your horse to your side, only be frequently unable to mount it. And it would often disappear entirely, never to return)