Of all fantasy empires, the tradition-wrapped kingdom of Melnibone is surely among the best known. The capital of this slowly falling realm is the seat of Elric's empire, Imrryr - the Dreaming City - a place of slender, sky-reaching towers topped by banners that wave in the winds. Beneath Imrryr are the Dragon Caves, where the oath-bound reptilian allies of the Melniboneans slumber and await the call to another war. Mystical ley lines threaded across the land like the veins of the world offer magical power to those to would walk them, and scholar-mages learn of the cosmic balance between the principles of Law and Chaos that govern reality. All the while, from the spires of Imrryr, the albino emperor Elric holds the legendary blade Stormbringer in his hands, watching his world slowly die.
Maybe it is tradition, but most RPGs based on Michael Moorcock's worlds are based on Chaosium simple system. This last incarnation is no exception, being based on Runequest 4.
This book replaces the RQ core (and probably the companion as well, considering the limited magic accesible to players in the setting) with a much more useable information. It still assumes more than a passing knowledge of the described world, but that is a logical assumption.
Unlike the Core rules, it is possible to play perfectly with only this book, which is a very good thing in my opinion.
The mechanics are the well thought, streamlined system from RQ4, and they fit quite well the power level of the novels.
A well done adaptation of the setting with a well fitted system, maybe lacking some background but nothing a good read of the original source cannot solve.