I loved that trailer. The battle system looks really fun, and for the most part the characters don't seem too jRPG-typical. The towns look awesome, and from what I've seen they're massive. Hopefully they are also highly interactive, not just superficially realistic.
The graphics are very nice, if a bit drab. jRPG's are typically too colourful, so I can't say I mind much.
I don't see much of the "player still in control during cutscenes" thing, which is disappointing, but I was never even sure what he meant by that. Hopefully the game takes a narrative-light approach, as clearly it won't be narrative-free.
The humming did seem really corny, and yes I'm disappointed this is yet another game that I probably can't play with other people in the room. My Wii is in the living room, I bought it as a social console. Then there's the reality that Japanese corniness is a big turn-off for much of the market, so is Western corniness (Red Steel 2 cut scenes were so bad I had to stop playing it with others around). If it turns out like that, sales will be limited to the typical audience.
A game I'm developing with some friends:
It is largely a technical exercise but feedback is appreciated.