Carn-
I'd have to agree more with the above posted review than your comments. The retry for failed missions needs to be there for at least some missions as they are required to complete the game. Making the game unwinnable is a consequence that would prevent them from selling many copies of Fable 2.
As for the free ranging world, sure it is. If you're looking for bigger, then what? an MMO-style world? It could be argued that they aren't free ranging either, as there are borders of water or mountains in all of them that lock certain areas and prevent passage. If you want a TRULY open, 360 degree world, you'll probably have to wait another few years for technology and datasize to get there. I find it, through unjaded eyes, to be an incredibly impressive game.