I just beat it again tonight. It emulates really well in PCSX2, and still looks nice for a game that game out in 2000. I played the Japanese version and was pleased to find bilingual options for both text and dialogue, which must've been pretty forward-thinking at the time.
The art direction is really TOP NOTCH and oozes Tetsuya Nomura style. It's pretty easy to determine that Sion was a prototype Sora. Kingdom Hearts character designs even make reference back to Dog Street, the fictional fashion brand of The Bouncer. I've got a couple Japanese Bouncer artbooks that I'm going to have to dig out. It's a shame that this game didn't let you explore more of its very interesting world. Also a shame that the characters' backstories are hinted at but don't get much exposure.
I can understand why people were disappointed with it, but it's a fun 2hour romp if you don't expect the world from it.
Also, for lulz, the game's official website is still online:
http://www.thebouncer-game.com/flash_e/index.html