Pretty impressive work especially for 7 people, well done! I know its an early alpha footage but just wanted to point out couple of things because I want this to be a success .

• When the weapon or the magic hits the target, you may want to add a quick animation like a stagger or a tiny shake of screen because right now it doesn't feel like a combat, it doesn't give the satisfaction of cutting your enemy down or casting a strong spell. It is like that three arrows the the chest was no big deal.
• Second thing would be the interface; there is no minimap whatsoever, number of skills on the bar are too low I really think if you are able to build a unique character you would need some more skills , the cooldowns look really absurd (sorry) a simple timer would be better imo, the healthbars are too small and have no information and the damage numbers doesn't attract the viewer.
• Last part is the after effect in combat, l like that icy explosion, it seems amazing because it leaves an icy field, however the ice beam is just a blue light, may be it should leave some ice on enemies. And it would be really great if the arrows would stay on bodies for a while, and some blood of course.
  Sorry for throwing a lot at you, but I really think these are important.