This book is a bit of a mixed bag, to say the least. I think it largely suffers the problems of any one book licensed D20 game, except unlike WotC's Star Wars game, there were no supplements beyond a single adventure book, so there's nothing out there to shore up the weaknesses. When you need to stuff an abridged D&D Player's Handbook into the same book as a setting and DM guide, and have all that be the same length as the normal PHB, there are going to be problems. There's only seven classes, most of which are rather boring, and the Aiel warrior class has a ridiculous name even if it's right from the books. Skills, feats, and combat are what you'd expect, complete with 3.0 goofiness like Use Rope and a skill just for knowing which way is north. But since Wheel of Time is just humans, plus Ogier, there's not the usual spate of races in D&D or Star Wars and that chapter instead spends time developing a relatively neat backgrounds system.
The magic system is also a little more interesting, since of course the One Power doesn't work at all like D&D's pseudo-Vancian default. Well, in RPG form, there are still weaves per day, but there's a few mechanics by which Channelers can attempt to cast more powerful spells and/or more spells than they should be able to, though some of them risk stilling. And the way most weaves can be cast at different levels for varying effects is a nice precursor to fifth edition's system. I also like the organization of weaves into Talents and the rules about how common or rare different spells are. The chapter feels a little too thin and would've been nice to have expanded on had this ever gotten supplements. I did like the chapter on angreal and ter'angreal, even if it's short. It still manages to stuff in a lot of neat magic items, and the system for angreal, of allowing users to increase what each spell slot counts as, works nicely in this system.
The rest of the book is the usual GM advice, setting stuff, monsters, and an adventure. The GM advice suffers from being crammed into a relatively small chapter alongside the obligatory prestige classes, which are mostly better than the base classes. I liked the setting chapter, though it eats up a surprising amount of page count with not particularly useful full color versions of city maps taken from the books. The monsters are alright, but there's a weird mix of a handful of natural creatures, some obligatory things like Trollocs and Fades, and then weird Seanchan creatures, some of which I'm pretty sure are made up whole cloth. Finally, the adventure is trying, but it feels like it'd only work if the GM really railroads it. The text itself acknowledges at least one point where the whole thing ends prematurely, and there are too many points where the party could easily become split or simply fail to follow on to the next scene and waste everything.
Overall, this is an interesting little game, and it was probably one of the better sources for setting information back in the day. I get why D20 was used, but I'm not convinced that it's the best fit for Wheel of Time. While the character writeups are somewhat more reserved than the ones in Star Wars, there's still the issue that Rand being level 19 in book 6 of 14 is kinda a problem. And while the magic system here is neat, it feels like it doesn't capture the use of the One Power as much as I'd like. Now that the series is done and has an Amazon TV show, it'd be nice to see somebody else taking a crack at it.