One sentence summary: Definitely some issues, but worth a read.
I'm not going to call this a review because there's no way I can write something worth being called that.
When I first heard Feist was writing in a new setting, I was excited, but I had no idea what it would look like, because fantasy has by and large moved on from the D&D and Tolkien archetypes, but Midkemia is literally a D&D world, but I think he did a good job, although this book has only hints of supernatural elements that will presumably play a larger part later in the series, as there does not seem to be open use of magic.
The book follows a blacksmith, and a student in a secret society who is also the secret heir to a destroyed kingdom, with only a few chapters from other viewpoints. What I found refreshing about the book was that the big events that are driving the series aren't 'active' in the timeline of the book, so it's a rather meandering book, with the characters being driven largely by their own 'small' problems about what they want in life and their own self discovery, so it's a rather relaxing pace. Where this direction falls flat a bit however is there is a lot of time spent in the characters heads as they're on the road just having a deep think about these issues, which would not necessarily be bad except that it seems they repeat themselves fairly often and think over the same topics without reaching any new conclusions or having revelations. In a similar vein, occasionally a character will just dump some exposition on one of the main characters in a way that just doesn't quite feel like natural dialogue.
All in all, I really liked it for the meandering pace with the occasional urgent event and the hints of much more urgency to come, and at the end it comes together quite nicely with the events from the prologue and the journey of the whole book and I look forward to the next one to get a broader view of the world and some big serious events.