This is a terrible, terrible RPG!
The levelling up system forces you to attack your own characters to advance, you will be ambushed in over 90% of all fights, nearly all creatures attack first regardless of what level you get to (including the undead!), most status effect spells are useless unless you spend hours maxing them out, the items available from shops aren't varied or powerful enough, and you can't protect from status changes other than posion.
This is a real let down after FF1, which is by far the better game. The only plus point is the story, which is better than FF1 and Tactics.
Overall, I'd rather sit through Astonishia Story again. If you want a FF game for your PSP, get the other two!