I played it. Mind you, I didn't play the X360 version before, so I don't know how it compares. Honestly? The battle system is great, but that's about it. The characters were so annoying, it's by far the worst video game cast I've ever seen. The story is bad. Voice acting is beyond terrible (you can change it to Japanese, though). Read reviews if you want to know.
You may wish to avoid the English voices. Ordinarily, I don't zealously yell from the rooftops that Japanese voice acting is inherently better, because there have been plenty of games with excellent English voice acting, but Star Ocean: TLH manages to come out with...well, this:
Of course, the bigger problem is, some characters are absolutely dire. Your mileage may vary, but the likes of characters such as Welch, Lymle, Sarah (winged lady in the video above) and Meracle have done more to turn me off the rest of the game than anything else.
If you can overlook characters that have a chance to drive you mentally insane, and a story that has its share of insufferable, rotten moments (hello, emo Edge), you may find a very enjoyable game under it. Combat is quite polished and fluid; to regularly blindside enemies is always fun, and it has an array of varied bosses each demanding different mechanics to defeat.