Is the game playable in its current state?

After some problems with the stand-alone installer, I have finally managed to install the game. It loads fine, I can create a new character, and so far it runs smoothly, too. Before I invest more time: How playable is the game in its current state? Are there any major, game-breaking bugs? (Earlier posts seem to suggest this.)

Also, how to get a patch for the game? The Beamdog client doesn't work for me (it always claims 'limited connectivity').