Summary
A plot better than most Sci-Fi movies
The Good
Anachronox not only contained some of the best levels of any 3D RPG ever (in very stark contrast to the other big-name Ion game Daikatana and in *very* start contrast to the Final Fantasy games) but also by far the best plot. Where RPG games are usually focused on character skill development as in the D&D games like Icewind Dale or on console-style real-time battles - ala Final Fantasy - Anachronox managed to do what few others have: to feature a robust, well-written story along with well-developed and rounded characters all immersed in a detailed world while still maintaining logical and fun gameplay. Tom Hall's humor and influence is evident throughout as situations, characters, and dialogs are continually entertaining in a game which, overall, is generally quite fun without being overly violent.
Many people criticize the graphics from the dated Quake 2 engine, but I fail to see what the problem in that respect as the graphics don't make an RPG great (that is, unless the game is FF>6 and the graphics provide the only substance) as is well illustrated by earlier games in the genre such as the Ultima games.
The Bad
To put it bluntly: Daikatana. Had it not been for "that other Ion game" Anachronox would have sold immensely better as a result of better promotion and extra development time. But, as a result of massive pressure from Eidos, Anachronox was shipped with an excessive number of bugs (though none made the game unplayable or even undefeatable).
The Bottom Line
One of the best RPGs of all time with an excellent and funny story that will result in hours of fun gameplay.