I've been in Hwa Rang Do for about 6 years now, although the past year I've done almost nothing due to a series of injuries (should be getting back into it now, have no real excuses other than the lack of time - and an instructor in the area).
If you are someone who really wants a traditional, comprehensive, overwhelming, and protected martial art, Hwa Rang Do is worth looking into. The most similar thing would be Hapkido (they have roots together in Korea), but Hapkido is pretty much a watered down version of HRD. Biggest problem is there aren't currently any schools in the area - we tried to get one going, but location and timing were bad, and our instructor finished school before things could take off. So training is fairly limited ATM.
They eventually get into everything from gun defense, knife fighting (108 weapons total), bone setting and herbal stuff, soft circular and hard linear movements, grappling, sparring, and a few schools have Sulsa training (similar to Ninjitsu tactically speaking). They also have the showy stuff that looks cool, down to the nearly invisible get-the-scummy-guy-at-the-bar-to-leave-you-alone-without-making-a-scene moves.
Obviously I've barely scratched the surface on what it has to offer, but I know it has real-world application as I used a number of the things I learned as a cop on the street.