3.5 Stars.
I really really wanted to give this a better rating that I gave, oh, Twilight, but I honestly, couldn't bring myself to give it a 4.
The strength of this book is the setting, which is elaborate, gorgeous, complex and frankly interesting. This writer would do wonderfully in creating roleplaying games. The downside to it is that, well, everything else is pretty weak: the structure crumbles under its own weight, the pacing is atrocious, the stakes are never that high (and the revelation of the third quest and its justification is outright ludicrous). Hell, the attempts to connect the MetaGame to the "wishes of the players" is completely nonsensical and falls flat when, later, the author tries to convince us that it was all doing by the Oversoul and her connection to the players. (Note that I REALLY enjoyed the idea of the OverSoul, when her true nature is revealed).
The characters are weak, and rather flat, with exception, perhaps, of the doctor, and that only becomes obvious at the final chapter. Lily was "perfect" and while her background was awesome, she still got on my nerves with her absolute perfection (I laughed when D_Light wonders just whose dream\wishes was it to have Lily's go through her final ordeal -- seems the OverSoul was listening to me, good lord!). D_Light was a poor protagonist, who falls for Lily at the drop of a hat, and for all of his 53 years of age, acts pretty much like a teenager all the time, Djoser is moustache twirling evil, obvious and terribly predictable.
I struggled with the book. I really did. True, I was expecting something less pan-human\futuristic and more cyberpunk, but it was still a sloggish read, despite de awesome setting we were presented. This author has great potential -- if only he took some damn writing lessons.