The problem with animation and spell effects is not the quality, it's the style. The animation has a cartoonish touch. Mostly not noticable but in some areas it really breaks immersion. The bow shooting animation for example, the arrow should not draw an arc at all at short distance. Right now it looks like there is no power behind it, as if the arrow is shot by a child and would bounce off on any surface.
The spell effects have the same problem. Extremely over the top blurry flashes, no variation, very uninspiring. They look like they belong to a cartoon action game. I was expecting something more sophisticated.