Rather than simply placing two characters in a massive level, each offers a different play experience. Playing as the prince offers a "standard" action experience; he can run, jump, and sword fight his way through levels. Meanwhile, the wizard has a compliment of spells at his disposal and is primarily a slow, ranged character. Another cool aspect of playing as the wizard is he can’t die while in ghost form, which helps a lot. Although you’ll make the most use of each player’s skills during puzzles, combat situations also require players to play off each other’s strengths. It’s a really cool, innovative approach to the playstyle.
But, once again, gameplay is where Tristory makes a massive roll of the dice. You can attempt to play both characters at once, but it won’t work for long. It’s possible early on, but as the game grows in complexity, there are sections where you’ll need to do two things at once. I’m sure a "Solo Playthrough" will hit YouTube at some point, but if you want to play Tristoy, you’ll need to find someone to join you on your adventure, either online or sharing a monitor (with LEGO style split-screen play.
As much of a gamble as Tristoy is, it is shaping up as a fun game if you have a reliable co-op partner.