I picked this up after trying the demo, and I'm glad I did. It is a solid game all around, and the good outweighs the bad for the most part. I wouldn't buy it though, and I love these type of games.
Good: - 45ish hours long, and that was steamrolling through - Graphics are beautiful (The others who say these are PS2 quality graphics are just plain wrong, or blind) - Combat. This really is the only reason to play this game, and its alot of fun. Difficulty scales well for the most part, but gets kinda luck based towards the end.
Bad: - Story. You can see the plot coming from a mile a way, very, very, VERY vanilla. Normally this would kill an RPG, but this ones tactical, and the combat balances it out. The characters in this game are also very cookie cutter with no real depth to them. Very one dimensional. - Some entire battles can hinge on one shot hitting or missing. This causes lots of save/load BS. This gets especially horrendous towards the end, where every CP counts. - Load Times are god awful. It seriously seems like it will load for 30 seconds to play a 30 second cutscene. And there are lots and lots of cutscenes, so lots and lots of loading. I even did the install to hard drive, didn't help a bit.
If you are like me and bought a PS3 partially because of the great selection of RPGs traditionally associated with the Playstation brand, this game will finally validate your purchase (at least a little). I have always wondered what would happen if turn based SRPGs threw away the grid and allowed for free movement and Valkyria Chronicles is even better than I imagined it could be. The art is simply beautiful. If you haven't already, I highly recommend checking out some videos of this game, because to see it in motion is like watching a 3d anime. The game itself will challenge you, but it's not impossibly difficult. The story is enough to keep your interest, on par with a good anime story. When you look at each piece of VC, it seems like a really good game, but when you put them all together you get such a great experience that it's a must play for anyone with a PS3.