Addicting, fun, easy, a bit repetitive
The sword play in it is pretty amazing too - since I'm a fencer myself, I have a bit higher standards to such things, but even I have to say it was pretty amazing. Not completely accurate in sword fights and pistol shooting, but close enough where you will be amply entertained.
There are a few downsides to the game however. The camera is not always the best thing in this world. There's also the issue of sailing back and forth...it takes forever. Finally, the game is a bit repetitive after awhile. There's only so much pillaging you can do before your 401K programs fills up and you're just forced to retire.
Overall, I recommend this game to everybody. Super fun to play and you won't tire of it anytime soon. One of those games where you can take it off the shelf and just have fun with it again whenever the pirate side of you come drunkenly staggering aboard.