I cannot overstate how much I LOVE this!! Everything, from the mood, to the Appendix N, to (probably) the mechanics (I haven't played it yet) is spot-on. I've actually been trying for quite some time to create an RPG about travellers in a fairy forest using very similar influences.
(You can probably tell from my entry that fairy-related stuff is a bit of a weakness of mine haha. But this is really genuinely very very good.)