Even though the game is already out in Japan, Square Enix was happy to show off Final Fantasy Crystal Chronicles: Ring of Fates at this year's TGS. Joystiq's TGS contingent happened upon the game and engaged in a multiplayer session with Square Enix booth staff, for our edification, and found the experience "very shallow".
The game hews closely to the Gamecube original, without the restrictive hardware requirements, of course, Your team picks character classes and explores a dungeon together, finding magic in the form of powerup items along the way. The magic is equippable from a menu on the touchscreen. Players have the ability to "boost" each other in order to make difficult jumps, which sounds fun, but could lead to split parties very easily (how does the last guy get up?)
What the Joystiq team saw as "shallow," we see as "intriguing." They decry the lack of anything to do other than defeat wave after wave of enemies, but that sounds quite like bliss to us, especially when the movement is "quite free" as described. Final Fantasy Crystal Chronicles sounds like it might be unexpectedly action-oriented.