The first thing that you would have noticed about Faxanadu, had you played it on the NES all those years ago, was that the game was clearly marketed at Zelda fans. The cartridge label was very Zelda-esque, containing a shield and words that read "Daggers and wingboots, mantras and monsters await you."  The rest of the similarities to the Zelda series can be noticed by anyone playing the game on the Virtual Console; the game has much in common with Zelda II, including detailed side-scrolling stages, weapon power-ups, and an epic soundtrack.

The game takes place in the World Tree, which has been overrun by evil monsters (referred to as Dwarves).  You start as a wandering traveler coming home from a long journey to the trunk of the tree. After being informed of the dangers about, you are implored by the king to do something about it.  Aside from some gold to buy supplies with, the game sends you off with little direction or guidance.  Most of the passage to new areas can be purchased from "key shops" but not before specific items are obtained or goals are completed. 

The game is certainly very challenging, partly because you need to interpret poorly translated hints from townsfolk for guidance, but also because the combat itself can feel very stiff.  Your hero only has one sword attack (forward slash) and cannot duck or aim upward, though the presence of projectile magic helps keep the combat interesting to a certain extent.  Also, the game will have you desperately seeking better gear and magic as you get further into the adventure.

Although the game is not perfect, it's a game that many people have never experienced, and definitely worth checking out. If you're a fan of side-scrolling adventure games, especially ones with an open-world element, give Faxanadu a try.