Free to play with cash shop.
Anyway, I'm in the closed beta, and I must say, the game is beautiful, and the music is INCREDIBLE. It is easily one of the most beautiful online games out there, with incredible artistic style(and I love this time period in costume design), and the music is just... wow.... However, it's a grinder, that's for sure.
Monster spawns are massive. You'll find yourself 3 against 10+ many, many times, and it can become a bit overwhelming. There are a tonne of weapon types, and a tonne of stances too, so that even though there aren't that many skills per stance, and even though there are only 5 classes, theirs alot of combinations you can make.
And, although a grinder, this game's levelling can be pretty easy. Hell, you can level while AFK, just set your guys on patrol mode. Just watch out for the bug that happens when a scout(your healer, who auto heals on patrol mode when not equipped with a weapon) is knocked down(they stop patrolling, IE: healing), and you'll be able to do something else. This can make the game pretty distant however, and I don't see why they just couldn't increase the exp rates and make it so you couldn't AFK, but whatever.
I havn't PvPed, but it seems that a team of musketeers with kneeling shot and execution shot will pretty much wipe the floor with anything.
I've already said to much(NDA and all), so I won't say anymore. I'm going to go start playing Guild Wars now, so later(as in, Guild Wars is more worth your time).
Also, as for those wondering, it has a very high chance of going F2P with cash shop, with the shop mostly reserved for appearance changing items only.