Ally IA is not good. They seem to not be able to evaluate situations at all in most cases.
Difficulty curve seem not... homogeneous. It has more spikes than your typical Mystery Dungeon.
It does not help that the setting is very flat and uninteresting.
On a nice note, as usual for Etrian games the soundtrack is very good.
AI definitely was frustrating at times, especially their pathing if they get separated, and the discrepancies between room and hallway behavior were annoying as well. I don't care that there is an item to warp them back to you, there is no good reason for the programming to be like that... ._.
That aside, I found the game to be very easy once you get the basics down after the first dungeon or two, to the point of being boring outside of boss fights (which tended to be easy as well, but at least the tension was there because of not knowing what they'd do), even in the post-game, where my only wipe (and a disastrous one, at that) was due to a dead battery, and never any enemies in game. I do, however, feel that the rare (sparkly) enemies are way overtuned in this game... they are often stronger than bosses and have DOE levels of HP but since they're just basic enemies with absurd stats they're not really interesting.
The music is, indeed, quite good, as you say!