I'm 2 hours in (on the second highest difficulty), and this is excellent so far. The combat system is great, as everyone's been saying; it's packed with clever design decisions like the reusable items and cumulative status effects, takes the right lessons from Chrono Trigger (ie. set enemies on the map), and has some thought applied to its enemy encounters.
I'm also incredibly impressed with the pacing and hope it holds up. This game is terrified to waste my time, and that's a big advantage in a subgenre that usually has severe problems with filler. Plot points come thick and fast, the number of encounters is low to the point where none of them get tedious or samey, and everything feels very snappy interface-wise.
The writing is pretty good. It's not as special as the rest of the game, but it's still better than most JRPGs, and definitely feels very Chrono Trigger-ish. The dialogue is funny, not in a top-tier razor-sharp Portal 2 way, but in a sort of comfortable, warm, inoffensive sort of way. That's totally fine. The story and characters feel pretty cliched so far, but I'll keep playing and see if that changes.
Robert, great work! I'm excited to keep playing, despite being knee-deep in both Persona 4 Golden and Witcher 3.