Great game, but they could have done more...
What is it with Japanese game designers and wasting the potential of the 'cube? The graphics are nice, but they could have done much, much better. Increased the number of animations, fancied up the magic effects, even allowed you to customize character models to some degree.
Even moving on from graphics, they didn't do all that great a job of implementing the "characters can die" mechanic. I lose a character, and instead of the commander being immediately riddled by doubt and his relations suffering right after the battle, his absence is only really noticed a couple levels later and only in passing. I find this annoying. They could have made the death of a character a much more powerful experience.
In the end, the game is good, and I'll probably sacrifice a lot of my time to it, but even though I'm awed by the gameplay and entertained by the story, I'm constantly disappointed by things that could have been truly amazing and just weren't.