That quote and that battle have always been one of my most memorable villain showdowns. It took a bunch of different teams, and arrows, and in spite of that he was still standing.
Most of the time, the defeat of the villain is all about making the hero look good. He kicks down the door, yells something about friendship, and then beats the bad guy simply because of destiny or something. On the other hand, defeating Blight required a master plan from a brilliant strategist, the coordination of an entire army, and then several teams of your strongest characters. It was epic.
The brilliance of Suikoden was that it rarely settled for typical, something which is hard to say about many JRPGs.