Don't know if anyone is reading this anymore, but I finished the game on Sunday. Took me less than 30hrs, and I did almost all the optional quests.
Overall, I like it a bit more than Ys seven. It's maybe a bit shorter than seven, but involves less backtracking. Seems perfect to me. New Game+ looks like it will offer some significant replay value.
There are a lot of notable Ys IV music tracks that are noticeably absent from this game, which is a bit disappointing. However, the inclusion of two unused Ys IV tracks - or at least two that I recognized - was quite a good idea. (There are four unused Ys 4 tracks which you can hear on Falcom Special Box '95. Falcom often puts unused tracks from Ys games in newer versions of the games.)