Final Fantasy II is the Final Fantasy VIII of its era; it's a clever little game with an incredibly brave character progression system that was fine at the time but is now incredibly tainted thanks to the fact that it's deathly easy to manipulate and break the game with! It's funny, really.
FF2 does have to be credited with bringing strong narratives to the series, though. It was the first to do that and it really is a trailblazer in that sense. I think all fans should give the GBA or PSP versions a go.