Thanks for all the quick feedback, everyone. Here's a rundown on the gameplay:
The game features a built-in island builder tool, which allows you to design your island(s) and construct stories/quests. Design involves laying out the terrain and scenery tiles. Story creation allows you to place NPCs and give them interactive (multiple choice) dialogue. You can also define tasks, and the NPC dialogue engine can branch based on which tasks have been started/completed. It's like a little scripting system.
Island creation (and gameplay) are fairly free-form, but there are some rules. For instance, every island must have a town space separated from the "wild" (expedition) area. When your island is ready, it can be published to the world for everyone else to explore, follow your stories/quests, leave comments, and rate.
The gameplay involves classic RPG elements, but in a new unique way. Your character leaves the Gatehouse on an expedition into the wild, where you will encounter creatures, uncover the terrain, and maybe interact with story elements (if that's how the island's author designed it). Combat gives you raw resources, which you process into crafting materials, which you use (along with XP) to craft weaponry/equipment/potions/spells/etc.
Explore the islands, follow the stories, then create your own.
Edit: By the way, thanks for trying it out, hemmingjay. Combat is definitely simple (on purpose) and gameplay is rather self-directed, but I'm very open to suggestions. In particular, could you elaborate on the "input lag" (not exactly sure what you're describing)? Thanks!