Playing through this now. Not quite an rpg, not quite enough to qualify as an adventure either. None the less, Folklore is a very good action game, if a little bit easy. And for an 07' game, it still looks pretty good.
I dig the Pokemon-esq necessity to capture "folk" (the name for Folklore's enemies) before you can use them in combat. That, and the variety of requirements needed to level up each folk. The story itself may not be riveting (murder mystery), but it's one that I do not see used very often, so atleast it doesn't feel recycled.
I'm in the middle of chapter five. It looks as though this'll be a short ride as there're only seven chapters. Probably twelve hours total when it's all said and done. Which is fine for a normal adventure game. Unfortunately, I've spent a good few hours just leveling my folk, which is why I consider Folklore an action game rather than an adventure game. If I had spent $60 on this I may have felt shorted.
Great game for $20-$30 though.