That was pretty accurate.
I would add to this is that most of the boss fights start to lose their luster once you outlevel them. Killing the chimera? Awesome the first or second time, but eventually it gets old. The sixth or eigth chimera you kill feels like just another goblin, except you climb on it before you kill it. Once you've fought a big creature once or twice it becomes just as repetitive as everything else.
Oh, cyclops. Shoot/stab it in the eye, it's going down. Oh, it's wearing a helmet to protect its eye? Guess this will take a bit longer. Essentially every big creature in the game is that, although that first encounter is definitely good.
I definitely agree that a sequel or patch that fixed the problems he mentioned would make it an outstanding game.
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SuperNiceDog buried everyone else's hopes of winning the Guru contest in the backyard.