It's Just So Studly!
Note my rating is like 9.4 and I'm rounding down...
There's just so much to this game, a little room for improvement, and an overall smash all in one.
It's got a great foundation to start with. Being Epic Battle Fantasy it has all of Matt's world established already which leaves more room to make a great battle system from 1 and 2 even better. Love having tech trees for skills, stat clothes a la Final Fantasy X and X-2, and upgradable weapons.
I also like that it's not just a run and smash i.e. you need to use strategy. This is best demonstrated when facing the Wooly Mammoth boss. If you try to just bash on him it doesn't work. Gotta know its weak to poison and find a way to knock out the Holy enemies + regenerate on your party or yer doomed.
As for improvements they're just ideas for EBF 4 (and you know Matt's got it cooking somewhere). First off I'd make some of the skills to where you have to more definitively make a choice on what set of skills you want to be good at. This could be done by making you have to stick with a certain element set i.e. Earth and Poison to get their best spells (like Earth and Poison's best skills can only be gained if you don't put points in Wind and Regen for example).
Another idea would be making the skills more definitively linked to the clothes you've got equipped (a bigger move towards FF X and X-2 similarity).
All in all this game is pimp and the only thing better would be medals...oh wait this game has them.