I'm more interested to see how good is this on the role-playing side.
Well, I guess it plays quite similarly to QFG with respect to RPG elements; the story line and puzzles are very much like a traditional adventure anyway.
There are a number of creatures which you will come across to battle - some of them are common like bandits and hungry vargs (wolves) in the woods, and there are also some creatures which are out only during night. As you progress through the story, more difficult monsters will appear.
Monsters are a random encounter, and when they are there, you will see them walking onto the screen and start to pursue you. You can choose to fight, or run away, and the monsters will chase you for a little while until you lose them.
Your character also has stats and skills - strength, agility, etc. You can choose how to distribute some points when you first make a new character. While in game, you can learn some new moves (if you discover them or help someone out; abilities aren't handed to you on a platter), and the skills you have are levelled through using/training them (for example, if you cast a magic spell in combat, you will likely increase your skill in that spell).
Your character can also feel too cold, hungry, tired etc, so you will need to make sure that her basic needs are met, otherwise her health will drain away and she will die.
Regarding combat, I believe it is similar to QFG2, but I have never played the game myself (I don't really play many games as I much prefer painting graphics). The interface is easy enough to use (plus there are keyboard controls). Mage's Initiation is different in that you have to move/walk your character around, but you won't need to do that in Heroine's Quest (in my opinion, positioning characters in a 2d environment is quite tricky to play, and is more suited to 3d environments).
For those which don't enjoy combat as much, there is a difficulty slider too.