Okay, well this a bit late since I had the game for a few days now but I saved it for now. This game PWNZ Wild Arms 1. The only advantage I see with Wild Arms 1 compared to this game is the fact that you can do the 250 item trick in WA1 and not in Alter Code F but yea who cares heh anyway on to the review...
Wild Arms 1 started a revolution- a western-themed jrpg. How cool was this idea? The music at the beginning will always remain in the minds of it's players. Jack, Rudy and Cecilia are an awesome cast of characters and Hanpan is the cutest wind mouse ever! The enemies are also awesome with Alhazard, Lady Harkan and the other warriors and then of course Mother and those aren't even the real enemies ^_^ This game's cast kicked butt.
Finally, graphically Wild Arms Alter Code F blows WA1 out of the water. The graphics are amazing for the PS2 and what I hope the ps3 beats or is at least on par with.
Overall, the game is DEFINIETLY worth buying and people need to not believe the hype bout it not being that good because it kicks ass.