It's a new game, and I'm liking it so far.
www.wanderlustgame.com/index.shtml
From the website:

What is Wanderlust? The American Heritage Dictionary defines it as: "a very strong or irresistible impulse to travel." Wanderlust (the game) is an online, fantasy, 4 player party-based arcade-action rpg game made with Game Maker. Wanderlust: Rebirth officially began on December 24th, 2006. Our hope is to make Wanderlust a strong community-oriented game, where our players will make new friends and experience a great novel-esque story with one another!

Enjoy!
- Team Wanderlust

This game has four classes, and you can play online with four players at once.
There's a cool addition called the "Tide of Battle", which is self-explanatory.
Wanderlust and it's community (Reflect Games) has been relatively quiet and ignored, so come there and give it some life!

A preview of the game:

http://www.youtube.com/watch?v=76p1bvMfC0M&feature=iv&annotation_id=annotation_259537