Fans familiar with Record of the Lodoss War as an anime series and OAV will probably get a lot more out of it than those who don't. The game plays as a kind of side-quest or retelling of the Lodoss War (the series and the OAV are different tellings of it also from one another) that takes place centering around a certain character from the anime sources who many people thought was dead.
Record of Lodoss War for Dreamcast is the latest entry in the legendary medieval fantasy saga created by the Japanese novelist Ryo Mizuno.
Starting out as a series of novels that chronicled the love story of a human knight wanna-be and a female elf sorcerer amidst your typical epic fantasy war, the Record of Lodoss War saga has expanded to comics, tv series, etc. being the most well-known incarnation the late 80s OVA cult series that became famous for being one of the first animated fantasy epics to include a now legendary orchestrated soundtrack.
Legend also has it that the saga took it's roots from a failed console rpg that Mr. Mizuno was working on. Apparently he was hired as a "creative guru" of a japanese attempt at bringing D&D to the videogame world, unfortunately the game got canned but instead of sitting into all the mythos and stories he had created Mizuno expanded them into his novels.