if you're not into Online MMO type grinding then everything you said is fine.
For everyone else that get tired of playing game that are 5~10 hours long * cought* ,madworld,RE series etc*cough* then you have no problem, this game was stated that you really start the game 100 hours+ , before that is pretty much the tutorial to get you prep for some real bad ass mobs.
Mob variations, not that much, and considering the game is based on Mob hunting unlike LOZ where it's to collect specialized items there is much more mobs for your money.
i'm 75 hours into it and I couldn't get into the PSP versions ( camera issues) but this is the way to go for me.
I work M-F and have a fulltime gf, so i'm amazed I have 75 hours, online with Skype is the way to go, in those inetense moments we don't have time to type HEAL ME!!! Critical info such as my friends flute is broken helps, or gunner ran out of heal shots.
As someone said the game really picks up but your achievement on here isn't exp wise but gear wise. your gear represent your lv sort of. Go out there and kill shyt and make me proud : )
seriously, I've played the hell out of PSO on DC, GCN, total hours on most toons 4000+ hours, had one with 8000 hours but.. card got corrupted >_