This game was in closed beta back in the months, which was fun. Until i had to go down for bug fixing and never got back on.
They are now releasing CB part 2.
It's worth a try if you like Sailing on boats, Active GM, Events, Guild tournements, PVP system , Party PVP system.
There beta website isn't that great but they are rebuilding a new website which features account login and item mall.
Oh one more thing, as GM_Solar said long ago, you are able to keep your CB accounts even if it's in OB. Why can you keep it? Because it shows that you were in the CB.
Website:
http://www.lunentia.net
Forums:
Lunentia 
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Step on how to play the game
-Steps-
Once you install it to the dictionary go to it, C:\Program files\Lunentia
Then you will see a file with the name "Lunentia" use your arrow to Copy/drag this to your desktop, this will increase the speed of the client.
Quote:
Recommended Requirement
OS Windows 98, Windows XP, Windows 2000
DirectX DirectX 9.0c or above
CPU Pentium III 500 Mhz Pentium III 800 Mhz or faster
Memory 256 MB 512 MB or above
Graphic Card Direct3D 9.0 Compatible(Riva TNT) GeForce 4 MX or faster
Sound Card Direct3DSound Compatible
Mouse Windows Compatibl