Well, post-patch 0.2 shows that they at the very least understand a few major aspects of II that contributed to how fun it was:
- Critical Mode's design philosophy. CM in IIFM is great because of the philosophy behind it's design. Rather than nerf player damage while upping enemy damage, it adopts a glass cannon philosophy where everything can die pretty quickly, but Sora doing so necessitates that the player actually pays attention to and learns to navigate enemy attack patterns/DMs. It's implementation in BBS, Re:Coded, DDD and pre-patch 0.2 completely missed the point of that (It's admittedly not that bad in Re:Coded, but still). That they adjusted that so quickly in 0.2 to be more in line with II bodes well for III.
- Boss revenge values. One of the biggest problems with the Osaka designed games is that the bosses don't have any sort of revenge system like the (non-giant) bosses in KHII. Whether or not a a boss would interrupt your offensive was entirely random in BBS & DDD, as opposed to KHII (and even the first game in some respects) where you could reliably predict when you reached the boss' counterattack threshold. Zodiac Phantom Aqua seems to have a proper revenge system in place, and that's part of why that fight is as well designed as it is, since you won't get blindsided by randomness.
- Good optional boss design. Most Osaka optional bosses suck. Armor of the Master and No Heart in BBSFM I give a pass to because they were initially designed as multiplayer raid bosses and were balanced as such. A good chunk of why they suck have to do with the aforementioned lack of a revenge system, but the other half is because they're just not well designed at all. Zodiac Phantom Aqua on the other hand, seems like something straight out of IIFM: A proper revenge system in place, attacks that can be telegraphed but require reflexes and an understanding of her attack pattern to properly avoid, and a DM that you can't just i-frame dodge roll/cartwheel through but actually have to break down and navigate through with guarding and movement abilities ala Lingering Will.
They've got a ways to go in regards to some other things, but 0.2 definitely leaves me a lot more optimistic for III than I was previously.