So it's a little tough to tell from the video, but the combat looks a little like a mix between the menu-based action of past Final Fantasies and the more active fighting style employed by Crisis Core or Final Fantasy XII. If that's the case, I'm cautiously optimistic. The thing about Final Fantasy battle systems is that in hindsight, they can be a little infuriating, but they usually work well in the games in which they are set.
The menu based active-time battle system is a bit of a snore now, but in Final Fantasy VII, it allowed for a great deal of strategy and planning. And while the Final Fantasy XII gambit system never quite made it to a level where I fell in love with it, it worked well in its context. So an active Crisis Core-type battle system will be a lot of fun, I think, if it can employ in a fast-acting way the menu strategy of past Final Fantasies.
Successful games like Ninja Gaiden and Devil May Cry use this sort of button-smashing system pretty well. Crisis Core becomes a little boring, so hopefully Final Fantasy XIII tweaks the active battle of movement and attack by adding a necessity for menu-based strategies. But basically, the point is, Final Fantasy games always play pretty well.
The battle systems always work well in the context of the game and are at least tolerable for the duration.
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