This looks really interesting. How close are you going to stick the the souls formula?
In terms of combat, pretty close, with some key differences.
1) You can't two hand or one hand weapons
2) You always have access to a bow
3) Shields are temporary and only last ~1 second, but they block in every direction.
4) In terms of magic, you get a limited number of casts of only 1 spell per life (you can change this spell at the spawn point)
Outside combat, there's varying levels of similarity and differences. Dialogue wise and level design wise, it's relatively similar. Character progression is very difference. You only upgrade your armor, weapons or spells, and you upgrade them with materials you find or get from killing enemies. Each time you kill a boss you unlock the next "tier' of upgrades made available to your weapons, armor and spells