This studio was formed by the original creator of Rad Racer and the Final Fantasy series. So far they've released two games and while one was good, the other was just fantastic. Both only on the Xbox.
Blue Dragon had a great premise and likeable characters, but an PAINFULLY slow battle and menu system. Menu's took forever to animate in an out and this isn't loading, this is just slooow animation both in menus and in battle. The absolute worst though was the there were items hidden EVERYWHERE in areas. This alone wouldn't have been bad, but you had to sit through the opening/searching animation for EVERY items you found, then when it was done, it would pop up a msg saying what you found. Then entire process took about 10 seconds PER ITEM and there could be about 10-20 items per zone of the area you were currently in. Can we say artificial extension of playtime?
Then there was Lost Odyssey. This game is a mother f**king GEM encrusted in another gem adorned atop the highest mountain. Greater than every Final Fantasy game from 7 to 13 (excluding 9) COMBINED. This was a game that took old school story telling and battle sequences and gave it a next gen coat of paint. I cannot stress just how great this game is. You play as an immortal who's lived for 1000 years but has forgotten his past. As cliche as that sounds it works great for the game. He starts to remember things though general gameplay AND through optional dream sequences. The dream sequences were an absolute charm. They played out as dramatic stories that you would read set to music and sound effects and all of them playing on a powerfully emotional level. You play this game with your girlfriend, bitch'll shed tears. In a good way.
Basically, this game caters to fans of Final Fantasy 4 and 6 (which any REAL Final Fantasy fan know as the golden era of Final Fantasy). Battles are turn based and have front/back row, allow for 5 people in the party at once, has an interesting skill learning mechanic and there's tons to explore and do on the side. Basically, the only people who learn skill naturally are immortals. They learn them as they level up. Then, humans in your group can learn skills from immortals. You bind a skill an immortal knows to a human and after gaining a certain amount of ability points through battle, the human acquires the skill to use on his own without needing it to be bound to him.
Another interesting point on immortals is they cannot die in battle. If their HP hits zero, they pass out, but will revive after about 3-5 turns. A human has to have revive magic or items cast on him to get back up.
As for the story, it starts off a little slow, but about 3 hours into it, it really picks up and grips you all the way to the end. This game is what every Final Fantasy since 6 should have been (tho again, 9 was pretty good too).
Their next game is Called The Last Story (an amusing synonym for Final Fantasy coming from the man who originally created that series) and will be for the Wii. Not much has been released about it yet, but it seems it too will play out a lot like old school final fantasy games with much to explore and lots of side quests to complete as well. Looks like it will be another Mistwalker sleeper hit.