Much weaker than FFXI.
Licensing board doesn't really add anything to the traditional skill customization; but at least it's unique, so I guess it's ok.
Battle system is decent. Again, nothing new compared to older games. Ability to move around during battle doesn't seem to make a difference. Long delays are rather annoying, especially when using gambits.
Story is rather boring so far, but I haven't finished the game yet.
Characters are very weak. They have neither the personalities nor the story that would make me feel anything about them. If one of them dies half way through the game, I won't even care. They don't even look interesting.
Music is decent, but not even close to what I heard in FF11, FF6, FF7.
Graphics is good.
The camera is terrible. No first-person camera at all. And 3rd person camera is no good. For instance, if my back is against the wall, I can't see anything. Of course I know it's because the camera can't be inside the wall; but just make it so I can rotate the camera and zoom out, so I can still see everything! It happens often (e.g., when the enemy attack pushes me back, or when I was fighting someone who stood next to the wall), and I don't want to waste time walking away from the wall every time.
One design problem I noticed. I get stuck in some areas because I came there too early (without exp'ing enough, without buying enough gear, etc.). I can't get out anymore to the outside world. So it's a mandatory rollback using save files, and very long one too.
I do like that you can see the monsters, and so may be able to avoid them.
Overall, I'm very disappointed with this game, but it's a bit unfair because I set my own expectations too high. Also, I haven't played the game enough yet, so I may be wrong in some of my comments. Please let me know if you see any obvious errors.