So I decided to pick up Etrian Odyssey along with a DS to play it on, and it's a really great game. It's really old-school and hard as hell. There are no towns except for the one your start off in, which functions as a central hub where you can hire new party members (at the beginning of the game you pick a party of 5 characters from 9 different classes) buy armor, weapons and items, rest and save, and take on optional extra missions. It's a really straightforward game: your only goal is to explore the different layers (floors) of the forest labyrinth, which pretty much look the same everywhere from what I've seen so far. It might turn some people off, but considering the game is built around the battle system and exploration I don't care much myself. The color palette is nice and colorful, and enemies look detailed and interesting. Character portraits (there are four different portraits to choose from per class) and NPC portraits are also nice although I'm not sure if some of my party members are boys or girls (not that I particularly care).
Battles are with a few exceptions random, turn-based and generally very hard, especially if you choose the wrong party setup. The map making feature is fun and useful, especially since you can write your own notes to place on the map. Money is obtained the same way as in FFXII, that is, enemies drop items which you can exchange for money in the town. These items also function as raw materials for items, weapons, armor and accesories, which will appear in the store for you to buy. This encourages you to take on some rarer strong enemies (which are the only ones to actually appear on the map) since beating them can get you rare items which might get you stronger weapons etc.
You can also get items from special locations on the map where you can either dig, gather or lumber for stuff. You need to unlock skills to do so, though. Going up one level will earn you one skill point. Each character has a unique set of skills, most of which, when acquired, take tech points (TP) to use. For instance, an Alchemist character can learn the skill 'flame mastery' which unlocks the skill 'flame technique' which, when learned, will allow him to cast a fire spell that takes up 4 TP to use. The fact that skill points are so hard to come by makes it important to really think about how you want to distribute them.
Everything in the game, including the battles, is presented in first person view. That means you never see your characters; their portraits only show up in battles when you select your commands. On the map you move step by step on a square grid, though the environments are actually 3D (so it looks like moving in a FPS, only along fixed distances). While exploring you come across events which are described to you in a pen and paper roleplaying book style rather than shown through graphics (something like: 'Making your way through a narrow path through the bushes you come across a rocky wall with clear water flowing from one of its cracks. Will you drink it?'). There are also some NPC's standing around in the labyrinth, though you can't see them until you're on their tile (which is where your map comes in handy).
Although the game feels very old-school, it's all really polished and nicely presented. It basically takes some of the cool features from existing RPG's and mixes them all together to create something that's fresh and familiar at the same time. It's a lot more honest about what it is too, compared to dungeon crawlers in disguise like FFXII, which makes it a lot more enjoyable to me since you don't have to deal with all the superfluous nonsense surrounding those games. Oh, and lest I forget, Yuzo Koshiro's did a great job with the music, the battle themes in particular are awesome.