It's like a port of the first one. I've heard it's not that great. The also changed the battles a little bit and you don't move around on the screen and it looks like most other RPG battles.

I've played through the Sega cd versino and played about 1/3 of the PSX versions. Barring the improved graphics and FMV the originials are much better on the Sega cd. Part of the problems with the PSX version is they just reused parts of the Sega cd translated scripts and didnt' translate parts of the remake. This has been talked about to death at other sites so I'm not going to go into great detail about it.

Don't forget the Gamegear and Saturn import only Lunar Magic School.