not sure, never played Final Fantasy or Fable. It's basically controlled like an FPS for the combat, in that you can block and attack, or use a bow, magic etc etc, it works very well and the fighting is entertaining still imo. It's not like having dice or something rolled for you to determine if you hit the guy, as you press the button and wack em'. lol.
I dont do RPG's and dont like many console FPS games, but I thought I'd try it as it was £21 when I bought it and it's one of the best games I have ever played... if not the best tbh... there's just so much to it and with the plot lines and graphics you cant really go wrong imo.