No, it's not a list of "fantastically great romance reads" but a legitimate fantasy subgenre.
This varies from work to work, depending on the characters, but there's usually not much new here.
The love story being the focus of the work, there are fewer characters than in most fantasy sub-genres. Sometimes the main characters are drawn with a surprisingly amount of complexity.
Pretty low, and about what you'd expect from a romance.
Both sex and violence rate high here, but they are usually portrayed pretty innocuously.