Excellent RPG with many subtle touches & few flaws
The graphics may seema little underdone at first, but a great deal of though went into the combat systems, storyline, and overall package.
There are many subtle touches (use of sound, movement, humor, and an excellent ending). The game takes a while and there is little "leveling up". The choice of armors, party composition, tech usage, and where to fight keep this from being just a linear hack n slash.
The only improvements would be:
Graphics: Not a necessary one, but also not difficult to upgrade over time. Movement was well used and should be kept at the current levels.
Interactivity: The game does change over time, but the various "villager" types do not. This could increase the interactivity of the game, especially if they provided hints on fighting certain monsters in certain areas.
Storyline: This could be fleshed out more. Perhaps more elements of the back story of the different characters and flashback elements about Alexia.
Replayability: Not that replayable (it takes a long time), but a long term project would be adding an additional challenge using the same engine and base characters, but dealing with the main nemesis in a different context.
This game does get difficult. There are spots when you will have to take several cracks at an area or boss. Because of the scaling of "leveling up", you almost always have to solve the monsters rather than just level your stats up to beat them.