DW2: A bit better. Like GUTS said, it's still slow-paced, but has its moments. I love the moment you get your ship and the cave to Rhone is a BRUTAL dungeon (although made easier on the Super Famicom's Dragon Quest 1-2 compilation.
DW3: Very good game. I found the beginning to be slow, but after you get through the Tower of Shanpane, the game really picks up in tempo. The class-changing thing is cool, but none of your other characters besides the hero have any personality. The hero really doesn't either.....but at least he has a purpose, the rest of the characters are just random people recruited.
DW4: A personal fav of mine. I love the chapter system and the game (for the most part) moves at a good pace. Like mentioned above, the only problem is that in the final chapter, all allies are auto-controlled, which was stupid.