So, I started playing this game and Ikariam at the same time, and this game just rocks. At first, I was put off by the dated graphics, and thought I would like Ikariam more. I definitely prefer the art style and graphics of Ikariam. But, after playing both for about a week, I'd say that Tribal Wars is MUCH better. I love how detailed the reports are, and how easy it is to track EVERYTHING that you've done. So for those of you that are still on the fence about this game, I strongly encourage you to give it a shot.
If they would just update the graphics, it would make a huge difference, IMO. The game looks at least 10 years old.