Okay, having played and now uninstalled Dungeon Lords, I am ready to pass my judgement.
What a load of junk!
The game is like Everquest but without other players.

First, the graphics. The graphics are awful. The terrain is basically a green "texture" (if it can be called texture) and another repeating texture of grass. The character looks like a retard and walks like one too. Walking backwards and strafing is simply ridiculously animated. If you wear a shirt, a leather armour or a chain shirt, it will look exactly the same except for different colours. When I put on a medium armour, I looked as if I was wearing a skin-tight long-sleeved shirt and not ten kilos of iron rings on me.

The game mechanics are funny. First, magic is like Contra Smartbombs. One spell will raze anything in it's path. The bow also makes you an unstoppable juggernaut: most monsters either will stand at a distance taunting you and allowing you to take aim and blow them to Dungeon Lord Hell or simply will stuck in a random boulder. When killed, the said monsters will produce a sea of golden coins and a shop-worth of equipment, weapons and spells. In fact, you'd be wondering how they can carry all THAT on them. Also, why when I open my character-screen, inventory or the help menu, everyone suddenly stop attacking me? The goblin simply lowers his weapon and grimly stares at me. The combat loses the whole point after you discover that you can resurrect your character with the "R" key. Why do I need health-potions, then? Strange, but sometimes I can see the enemy's healthbar and sometimes I can't. It appears on the bottom of the screen at random intervals and usually doesn't even mean anything. After leveling up with the first three kills, I suddenly find myself to be able to annihilate any number of creatures I meet. Bored, I decide to look for a town. I open my map... Wait, there is no map! Dungeon Lords does not have a map! I go in a random direction, then, hoping to find someone sign of some sort but nope.
After wandering for 30 minutes arround, I closed the game and uninstalled it.
Bah.