Nah, the original has some completely unreadable lines, and others that make no real sense. It's a poor effort all around, and by no real stretch could it ever been considered a 'good translation,' regardless of one's feelings about what they did with the PSP version. Lag is a killer, though - it was almost bad enough to make me want to avoid using skills. It's passable to some people, I guess, but the slowdown was brutal. Definitely the one bad mark on the PSP version. No reason they couldn't have spent some time working on that!
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Simplicity is the ultimate sophistication.