The big selling points, for me, are the setting and the mechanics, a theme which seems to be repeated by many other respondants. We'll take these in order.
The setting:
In the beginning, the earth was formless and void. Great beings, known by those who came later as the Primordials, gave shape and order to Creation. The Primordials then created the various gods to rule Creation, and retired to the heavenly city of Yu-Shan. Eventually, the gods, lead by the Unconquered Sun, grew tired of their servitude, and yearned to play the Games of Divinity. The gods conspired with two of the Primordials, Gaia and Autocthon, to usurp the Primordials and themselves retire from the world. Autocthon, the master craftsman, forged numerous Essences into which would be poured some of the power of the gods. The Unconquered Sun imbued his Chosen with greatness, that they may be the leaders and greatest warriors of the Exalted. Luna empowered her Chosen with her own changeable nature, and they came to be the great generals of the armies of Exalts and men. The Maidens of Journeys, Serenity, Battles, Secrets, and Endings empowered their Chosen to be great advisors to the Solars and the Lunars, as well as granted to them the ability to weave the fates of gods and men. Finally, Gaia imbued many mortals with power, that they may serve as the shock troops against the Primordials and their servants. The gods prevailed, slaying many Primordials and forcing the survivors to accept imprisonment in exchange for mercy. The Yozis, as these surrenders are called, were bound into a prison made from the flesh of Malfeas, swearing oaths on their names to remain there eternally. Those Primordials who lay dying, known now as Malfeans (yes, it's a confusing bit of terminology at first), laid a great curse upon the gods, "May you know betrayal as we have." Because the Celestial Incarna (those gods who imbued the Exalted with power) took no active roll in the defeat of their creators, the curse fell not upon them, but upon the Exalted, hands still wet with blood. As reward for their service, the Exalted were given rulership of Creation. Thus began the First Age.
Over many millenia, the Great Curse took root in the Exalted. The Solar Exalted became decadent and cruel, to the dismay of the other Exalted. The Terrestrial Exalted, weakest but most numerous of all, rose up against the Solars, slaughtering them to a man. Like all Celestial Exalted, the Essences of the slain Solars sought to reincarnate into living hosts. The Dragon-Blooded hunted these nascient demigods as they arose, ensuring that the Chosen of the Sun would no longer plague the people of Creation. In the place of the Solar Deliberative, they set up a great Shogunate, and ruled there for centuries. Then came the Great Contagion, a terrible disease that swept across the face of Creation, killing mortal and Exalt alike. So deadly was this plague that nine out of every ten people would succumb to it. Simultaneously, the Fair Folk, denizens of the chaotic lands of the Wyld that lay beyond the bounds of Creation, invaded in large numbers, intent on destroying Creation. As all seemed lost, five intrepid Dragon Bloods entered the long-abandoned Palace of the Anathema, activating the long-dormant defenses of the Blessed Isle. These defenses swept across Creation, destroying utterly the invading Fair Folk. One woman emerged from the Palace, and declared herself Empress. Many bent their knee to her, though not all. Thus ended the First Age, and began the Second.
She ruled for seven hundred years, spawning from her many husbands and dalliances the progenitors of the Great Houses of the Realm. Under her rule, the lands of the Threshold were brought under Imperial sway, and life was, for the most part, peaceful and prosperous. Then, five years ago, the Empress vanished. At the same time, the Solar Exalted began reappearing in force. Now the Realm stands poised on the brink of civil war, tributaries in the Threshold withhold their tribute, and the world is very uncertain. It is a time when heroes can make their mark on the world. What will you do with your power?
WHEW! That done, here’s what I like about the mechanics:
I love rolling multiple d10 rather than a d20 and adding modifiers. One problem I have with D&D is that I find the d20 roll is only relevant at low levels. In the mid- to high-levels, the roll pales in comparison to the modifier. Thus, it becomes a race to a high enough modifier to ensure success. When you roll handfuls of dice, you are never assured success. More skill (dice) simply means that you are more likely to succeed. Even experts screw up occasionally.
Secondly, I love the fact that the special powers (Charms) of the Exalted are based off their skill in a particular ability. Each Charm has a minimum ability score and a minimum Essence rating (an Exalt’s connection to the world). I’m getting sleepy now and can’t remember my train of thought, so I’ll come back tomorrow and try to make more sense.