Now this is RPG!
Uh...there were 8 prequels and I didn't know? Damn! =)
Anyway, it's still not one of the best RPGs I played so far. Reasons:
Battle System:
You're not allowed to use magic potions while fighting? A bit strange don't you think? It would be nice to see different combo attacks depending on the weapon you wield (thus 3 different 3-hit combos+3 elemental ones=12). Also, some of the enemies' attacks are a bit too fast, use more frames for them. Transforming to the Brute is useless by the way. It consume less magic energy but the increase of power is too low to be worth using. There are also not many monsters in it. At least do one recolor per enemy to make it more interesting.
Design:
The surroundings were actually pretty good, but the characters looked not sooo good. (I'd say 7/10 for the characters) Make it more Anime Style, that fits for the genre. Now a remarcable honor for you! 30 different weapons! Very nice, but I forgot to mention something. The weapons have different abilities right? So I think the paralyzing effect of the spear(or lance what ever you call it) and the wound effect of the axe should have a higher chance of randomly appearing. (Good idea of letting them activate just after a 3-hit combo though)
Music:
Gah...horrible. There were only two soundtracks! The first gets annoying after some time and the second gets boring after you fought about...50 times! You should use one soundtrack for every single part of the world. In this case: The woods, the dessert, the dungeon, the town, the overworld. Plus there should be at least 3 different types of battle bgm, one for regular battles, additional ones for bosses. Thus in this case 3. (Or maybe for because the last one is actually split it two)
Graphics:
God thank you, there is an option to change the quality! However some of the backgrounds for the battles look less good than others. Maybe you could even let them slightly change! (Maybe like passing birds in the sky or a morning/lunchtime/evening/night look for every background, which would be only another recolor, so don't worry of too much work)
Little bug:
You are able to walk through a tree at the upper left corner of the area under the second one. Was that a mistake or just some sort of easteregg?
Things I didn't like very much:
The quests! Just killing monsters is boring as hell dude...And if you already explored the dungeon, you can't do the fourth quest anymore! (Kill 15 Guard Dogs) You should be able to reenter the dungeon ones you beat it because the counter doesn't increase when I beat the necessary monster in a tournament.
The Bonus Feature. Uh, that was actually just a new style for your eyes wasn't it? (oh yeah and two new faces but they look stupid) The Final Tournament. I tell you, I won't spend another 3 hours of playing just to beat that! I mean, how dumb is that? The Snake has less Hp than the last boss but can still kill me with one attack (I was lvl 18 after all). Sorry but I think not many people will try to beat it, because it's so time consuming!
Anyway, you did a fearly great job, it's just not perfekt (yet) =D