Great, but not perfect.
First and foremost, let's start with the gameplay. The new system is Conditional Turn-based Battle. Your party and the enemies go in a specific order. This sounds good, but it's not. The game revolves around predicting your enemies moves. It also doesn't help that the bosses go in a general pattern. Screw up in your predictions, then you see the ugly words Game Over. Moreover, the sphere grid, which is where you "spend" levels to move around and upgrade your characters focusses way too much on leveling your characters up to death. But, this is fun in a certain way.
The graphics, especially the spells, look amazing. The animations are smooth and fluid. The bosses look impressive.
The sound effects sound good. The problem is the voice acting. The voices themselves aren't bad, it's just that they're hampered by badly written dialogue.
On the whole, even if you rush through the game, you should at least log 40 hours of gameplay. These 40 can be pretty satisfying.