It's a fun game but it got boring at around lv20 or so. It became repetitive quickly for the same reason PSO1 got boring for most. While it became a guilty pleasure for Phantasy Star Online, in Phantasy Star Online 2, it became tedious. You HAVE to walk everywhere. It's not like following a straightforward route and bam--boss. All of the emergency codes (special emergency missions which you have to complete to get a good grade on the runs) become obnoxious especially if you're farming and/or grinding.
I am interested in how they have the chat system in this version. I hope they incorporate a keyboard on the screen which you can touch and type like on a phone. That chat system in Phantasy Star Portable 2 was atrocious.
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Comment on: Phantasy Star Online 2 Coming to PS Vita
Levels 20-29 are terrible as you are just replaying content from levels 1 to 19 albeit at a harder difficulty, hoping that will be fixed with this weeks update, it is only about 3/4 of a game at the moment after all. Levels 30-40 have 3 new levels to experience which really ramp up the difficulty.
It's going to be Free To Play on Vita too btw and they're hoping to make it so Vita players can play with PC players. It's also coming to smart phones later in some form using your PC save data.