Really, really good!
I don't know if it is all what it appears to be, but here goes.
This is EXCELLENT. I know, it's weird that I rate this higher than EPOS, but this has some pretty great ideas. First of all, having daytime/nightime is awesome. Character customization is neat and totally not expected from a flash RPG. The mission system is really nice and the music selection is great!
The weak part in all of this is the graphical presentation. It could use some more spunk, maybe animation, etc. It kind of feels like a dull runescape presentation wise, but other than that, you are off to a great start!
I hope to see this on the front page some day!