Do it and you won't be disappointed. The game is addicting as hell and believe me, i'm not being nostalgic. I finished the game for the first time just before Skyrim came out so there is no room for nostalgia. I am in the middle of another playthrough as we speak.
I will advice you to do some research about the character creation first or at least read extensively the game manual.
Now about the languages, i don't know, for me they are not worth it due to the poor implemetation but in general the character creation gives you enough space to choose 2-3 skills for rp reasons, as long the rest of the build resembles something like a spellsword.