As an actual set, I think this is lacking. That being said, it could have been much worse. The main problem with this set is the design of the catapult, which looks far too small. The catapult should look much bigger, and not have the appearance that it could tip over when being fired.
From a pieces standpoint, this set is a gold mine. Wheels, weapons, two soldiers, a horse, and the horse barding. As stated above, the only complaint about the mini-figs is that a common soldier is atop the horse. This seems out of place, but can be overlooked.
Even with the problems listed, I'd still rate this one at least an 8 of 10. It looks like it would be really fun to play with for a child, and provides great pieces for the older Lego Maniac.
"A chair like this is like a girlfriend! Why would you trade in an old one that's comfortable for a new one that could be a pain in the butt?" -Archie Bunker-