You pick a class, each class has it's own attributes. There's a GIANT skill tree. Meaning you can do just about anything with your character. There is a mass assortment of items, including ranking of each item. From worst to best it goes White (Normal), Blue (Magic), Yellow (Rare), and Orange (Unique). You go through play quests level up, etc. It's really fun when you play with a party.
I have early release from school tomorrow... yay me