These are what we call the 'YMMV items.' Things that some people find in this work. We call them 'your mileage might vary' because not everyone sees these things in the same way. This starts discussions in the trope lists, a thing we don't want. Please use the discussion page if you'd like to discuss any of these items.
Ass Pull: Luvia's powers when you fight her come a little out of thin air, and so does her Blob Monster form.
Crowning Moment of Funny: In the sequel, if you play as anyone other than Vhaidra and attempt to speak to her sister at the Purple Wyrm, she at first haughtily and silently ignores you. If you persist in questioning her, and mention the fact she is a drow, you get this response: "I? Why no, I am merely a darkly-skinned gold elf. I laid out too long on the sparkling beaches of Evermeet."
Also, anytime Dorn speaks to Rondalla, since he always hits on her.
The sequel also has more great music, but they are currently impossible to find on the internet.
Demonic Spiders: Green slimes encountered in the sewers. They spit green globs at you continuously, which do high damage; they're not that hard alone, but the game loves to put them in groups of up to ten. Running straight at them is suicide, so the best tactic is to get a bow and snipe them from a screen away where they can't see you. It's also painful that they appear early in the game. The souped up version, which is blue, is practically a relief to see because they almost always appear alone, so they end up being easier. They also return in the sequel yet again in the sewers, which are also early in the game.
The Trolls in the sequel. They're really strong and can be killed only with fire or acid. This actually makes things easier for non melee characters like Ysuran and Alessia.
Designated Villain: In the second game you are required to get an artifact from the mansion of a lich living in the forest. It isn't until late into the mansion that Lyran attacks you, and later when you go into the basement where his weakness is he attempts to stop you. But what really seems off is that he uses weak attacks and shouts at you to leave his home; it isn't until you enter the room where his weakness is that he turns on full power to attack you, telling you that you have come too far. When you look at it, you broke into his house, vandalized it, and tried to (and eventually did) kill him; although he puts up a huge fight to keep his artifact from you, that is what is to be expected when you break into a guys house and try to steal his treasure, so overall it just seems unheroic.
The guy is in the process of building a weather-control machine (although you only know this because the game has something along the lines of "remove treasure from weather-control machine" when you go to collect it after the fight), so this might make him a little more villainous, but still not as much as most of the other badguys.
Game Breaker: One of the most dangerous stats in the game is not strength or agility, but Charisma. Charisma does nothing except make merchants 1) offer to sell you items at a discount and 2) buy items from you for more money. If you have a high enough charisma level however, the two effects meet, and you will find that you can buy an item to a merchant for less money than he will give you if you sell the item back to him. Simply buy stuff from him and sell it back to him repeatedly and you have unlimited money. At that point you can just buy and enhance the best equipment the merchant has to offer every time.
The game tries to avoid this with a clumsy price-capping mechanic, but you can bypass this by repeatedly donning and removing an item with a charisma bonus.
Goddamn Bats: The Rust Monster. They're usually innocuous, but if you're wearing metal on you (weapons or armor) they'll go after you and eat the item, which is Lost Forever.
Narm: If you value your ears, don't listen to the Italian version of the game: the voice acting is goddamn awful and dull. For example Lyran has a ridiculous, eunuch-like high-pitched voice and the tall, Amazonian Alessia sounds like a 15 year old girl.
Nightmare Fuel: Bloodmire Manor. It's indeed a creepy place with rather unsettling statuary, infested by undead, monster dogs, giant insects and bats. And let's not mention Luvia's Laboratory.
Mordoc's castle is situated in a dark, undead-infested battlefield, and it's full of living shadows.
Dragonspear Castle is also rather creepy and unsettling, especially the ruined outer courtyard which is Always Night (and always raining).
That One Boss: The Orb of Undead isn't too hard on single-player, but on two player it becomes much stronger. Without hit and run tactics its minions will swarm and kill you.
Also the undead Pirate Captain in the Sea Cavern, Aizagora and Mordoc. Vampire Randalla too.
That One Level: The Elemental Plain of Air: Is all composed of tiny rock platforms suspended in the void and strong winds always push you near the edges. You'll have to be supercareful!