Publisher description from What's O.L.D. is N.E.W. Starter Kit "The Full Games" section:
O.L.D. is a game of medieval fantasy. It contains six character races, and dozens of traditions which include knights, barbarians, druids, mages, burglars, clerics, assassins, pirates, and many, many more. O.L.D. also contains rules for wilderness travel and stronghold building, along with a bestiary of fantasy monsters. And, of course, O.L.D. contains extensive rules on magic, including many spellpaths and guidelines for designing your own spell-paths.
Play O.L.D. if you enjoy Tolkien, or other fantasy settings.