I have not played Persona 4 (yet), but seeing as how we're on the subject, I agree that sound design is usually a seriously undervalued aspect of good games.
I was reminded of this again because I started MGS4 this week (yeah, I got it really late, oh well 
). With a decent sound system (and it could probably be appreciated without one) - that game's audio ROCKS. From the sounds of battle to the little things like the brushing of clothing against itself, footsteps, waterfalls, a clip hitting the ground, the musical soundtrack itself, etc. - all of it is top notch and really helps get the player into the game.
I wish more gamers placed importance on the audio in games...maybe then we'd have more devs focus on audio and do a good job with it, like with MGS4 and Persona 4.
Oh, and lol @ the pistol in the picture
