It needs a good amount of work.
First off, your damage calculation concerns me-- I hit the very end of the timing line almost 100% of the time, but my damage ranges from 13-34, and often, if I hit lower on the line, I hit for 16-19, which is actually better in some cases than hitting the max. That's an issue, as it takes what little skill this game requires right out.
Secondly... am I fighting a waffle? That's cool, but I'd at least like a different variety of enemies. Maybe some pancakes, french toast, a croissant? I know there are bosses, but I was too bored after the ninth waffle fight to really continue.
I like the basic skeleton of a turn based RPG that you have, but you have a long way to go.