The core mechanics are 70pp. And are not lavishly illustrated; they're a dense 70 pages (and available for free). The expansion rules fill another dense 150pp+
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It's a hard game to learn on one's own. Doable (I did), but hard.
I think the 70 pages can give an exaggerated impression, though.
First, for an RPG they're small pages (novel size rather than D&D hardback size). And the rules are accompanied by useful commentary (something perennially missing from D&D - eg how important to the intended balance of 5e is the distribution of -5/+10 feats across the chosen weapon types, or the absence of spears from Polearm Master?), which makes them easier to learn than they might otherwise be with fewer pages.
I learned the game by reading it, and have recently been teaching it to my 4e group. It is definitely crunchier than (say) Marvel Heroic RP, which was very quick to pick up; but (in my view, at least) not in the same league as Rolemaster, another game that I learned by reading and then taught to others.
The core mechanics are not that hard to learn as rules; it is learning how to play them well that is a challenge.
Character gen is a whole 200+ page book for the 4 core races (Human, Elf, Dwarf, Orc)
But the lifepaths, trait lists etc are comparable to the spell lists in AD&D or the power lists in 4e. You only need to read the bits that are relevant to you in order to build your PC.
many standard elements of D&D are absolutely absent even from as-expanded BW... No halflings, half-orcs, half-elves, gnomes, vancian magic, paladin equivalents...
Gnomes are definitely absent. Vancian magic is an option in the Magic Burner, but absent from core.
Half-elves and half-orcs are not absent, though (the Fey Blood trait, or - for Elf PCs - the half-elf character trait discussed in the text). Nor are paladins (combine some sort of knight or soldier lifepath with some sort of Faith-granting lifepath - Knight of a Holy Military Order is one option, but not the only one).
Halflings are an interesting case. I've not read Luke Crane's reasoning - and I know that he has played the game with a halfling present (per
this play report). My take is that the function of hobbits in the LotR is to provide an entry point for the (modern, English) reader. The reader's (modern, English) perspective on all the fantastic goings on is actually incorporated into the fiction. In an RPG, there is no need for such a character, as the "reader" (or, rather, player) is meant to directly inhabit one of the protagonists in the fantastic goings on. So hobbits become redundant.
Start with just the core, add modules as people become comfortable with them.
Yes, the rulebook suggests this and it is good advice.
Simply allow more than one earned inspiration to be stored. If you play them, or dramatically play against them, earn one. Spend one when zeroed to make your death save, or to not pass out for one round when at zero HP...
Yes, I suggested something a bit like this upthread. You can go Fate-ish, too, by allowing compels for inspiration.
Circles: becomes an attribute. DC10 for fits to background & class, next couple days, and not inclined to help. Add 5 for not fit to BG or not fit to class; 10 for not fit to either. Add 5 for today, 10 for next couple minutes, 15 for Right Freaking Now. Add 5 for Will help if paid, and 10 if willing to help uncompensated. On a fail, may still show up with the animosity clause.
Would this crowd out any existing background features? I think some of the backgrounds already have an indie-ish feel (like the Hermit's "discovery"), and anyone who wants to play "indie" 5e shoud be looking to maximally exploit those existing resources, as well as adding in new mechanics.