Good Ending: Umarak helps destroy Kulta, Toru has a fatal aneurysm because of it, and Pulse is lifted from the Mask of Ultimate Power's control. Unfortunately, no-one's quite ready to forgive him or Makuta so they either get executed, imprisoned, or (hopefully) banished, and a new triumvirate of Mask Makers rise to power, consisting of Ekimu, Voltex and Nato. Bad Ending: The Temple of Luck is destroyed, all remaining Knights are killed or forced to hide in the deepest darkest places, and Toru DIYs himself into a zombie because what, isn't that the first thing that comes to your mind as well? So, if you interpret undeath as regular death, contrary to in-game Toru's beliefs (which is why he was OK with all of this because in his eyes it's not really killing), it means that I die either way.
(of course, Vinheim dies in both endings too, because he was too cold-feeted to go all-out evil)