Fired this up today and put about two or three hours into it. So far it's pretty neat, but the graphics are pretty bad. I thought Xenoblade Chronicles' art direction and design catered towards its strengths and masked its graphical deficiencies; The Last Story's art direction unfortunately only amplifies the fact that it's on the weakest of the current gen systems. Poor texture detail, sparse environments, and framerate are common issues so far.
That said, I'm really digging the structure of the game and its battle system. The Euro localization is pretty fitting, much as it was for Xenoblade Chronicles, and it became readily apparent withing the first half hour just why Nintendo opted not to self publish this one State-side. One the main characters is a rampant alcoholic that constantly talks about wanting to get fucking hammered. She's gotten balls deep in sexual innuendos often enough in the first five chapters that I'm pretty sure at some point she's going to savagely rape a random dude. Probably all of them. She's got a serious fucking drinking problem.
For anyone that doesn't want to deal with nunchuck/wiimote controls, there's classic controller pro support (!) just like in Xenoblade Chronicles. XSEED hasn't gotten a firm release date yet, but it looks like it'll be out in August in the US.
Still way too early to formulate a more concrete feeling about the game, but the idea of having an entire RPG take place within a single city is something that I'm really excited about, especially considering my favorite RPG series (Yakuza) pretty much specializes in doing that.
I fucking love Yakuza so god damn much.