I've been meaning to write something on Ys: Memories of Celceta for so long that my points kind of escaped me, so here's the cliffs notes version:
The action of the game is a lot of fun. It moves fast, the attacks all feel good and the skills are very tangible in terms of what they do when they hit. It's all very tight. The music's pretty good, though listening to some earlier Ys soundtracks, I don't think it's Falcom's best. Still pretty rad though, and a nice mix of rock action tracks and some calmer, near ballad-y things. The plot is pretty basic and won't really surprise anyone. "Servicable" is probably the right word.
All in all, absolutely play it.