All that it was expected to be... and more!
pros: NO MORE RANDOM ENCOUNTERS! EASY FLEEING! LESS TIME WASTED ON BATTLES! Keeps the adrenaline pumping all the time.
cons: Instead of the typical 1-4 enemies you can fight in a battle, you can have anywhere from 1 to... about 10, plus, the victory music only plays after boss battles... which in a way is a pro as well, so you don't have to constantly listen to it after every battle.
The game also comes with a license system that people say is complicated, but is no more difficult than the materia system in FFVII or the grid in FFX. Overall, this is pretty much everything FF fans everywhere have been dreaming of for years, and absolutely will keep the pplayer occupied.