Great game indeed, for me having played it like half an hour until now. The athmosphere is deep, so is the style of narration.
While I am not a fan of the rm2k3 BS generally, I can only say that you did well in improving it.
As far as the story goes, all I can say is that it's a common one. Neither does it bring any innovation with it, nor does it disappoint. Many of the story flaws are compensated with well made dialogues, so it's fine.
However, there are a few things that annoy me:
1. The different Style of Chipsets. The outdoor Graphics are okay, but the inner ones are disturbing. The Tiles are way too big for standard-size characters. Come on, your hero would have to use a ladder in real life, just to reach the top of the shelf. I think Suikoden just doesn't fit here, an inner style like Terranigma or even Chrono Trigger would fit better.
2. The Music is kinda new, for it is not much relying on melody. The result is that it kinda develops a movie-like feeling.
But what I find disturbing however is the fact that you obviously used original music, for example from the film American Beauty (god bless that awesome film). I don't think you should do that. neither does it fit, nor do you have the permission to use it. Furthermore, it brings a kinda awkward feeling to your game, the 'originality' fades away.
3. I didn't really get the Defense-based BS. Well, I've been playing FF A LOT
so I think it's not your fault ; )
cheers, estapolis