I must say, Cray really outdid himself this time.
First of all, I quite like the walkaround format, it's a noticable and welcome departure from the standard 'fight x monsters to fight the boss monster' with occasional cutscenes.
I loved the three boss monsters, though I'm not sure I recognized everyone from the second boss' attack. Also, would it be possibe to give a list of the third boss' quotes? I'm not sure I caught all of them, and I'd hate to miss a single thing.
I like quite a few things about the design of death, whom we finally see, - a sentient realm, wandering around re-gathering your anima (is that a different name for a soul? Or a component of it?), the spirit form and his manner of speech.
The grand reveal, is of course, incredible, but the way death said that the Chosen was chosen not for any single task makes me wonder... were we always meant to become who we are now? Did the other powers, like The'Galin, Falerin, Erebus and the Elemental Lords know about it?
Oh, and the reward is quite interesting as well. As with the last quest, we get a pretty cool spell that's not quite meta, but very niche and unique, so kudos for that.
Aside from the quest itself, it seems we're at least 2/3 of the way done with the prophecy, and we've even got a line from the third part. Dreams twisted and cold makes me think of the nightmare realm, and the world's veins are clearly the ley lines, which the Watcher seems quite interested in. Now that we know who Death can't hold the line about the hourglass turning seems rather ominous, though...