1up did an article on Famitsu's reviews of P4, GoW:CoO and Kane and Lynch. Here's what they said about P4...
Everybody likes the Persona series -- especially in Japan, where fans are legion and (apparently) crime-fighting mystical teenagers solving otherworldly murders are commonplace. Persona 4, the latest in Atlus' hardcore, horror-inspired RPG series, hits Japan on July 10, and Weekly Famitsu magazine published the first review this week, giving the PS2 title a very respectable 33 points out of 40 and a Gold reward. "The controls and battles both work quickly, and you can direct your party members around now, which makes play that much easier," one review commented. "The dungeons are laid out pretty simply, but they still have enough to keep you engaged." Another continued: "There isn't much new from the last game, but that strange addictiveness that doesn't let you go is still there. The cutscenes are more ornate, it's easier to move around, and generally a lot of details have been improved upon. The battles themselves are a little difficult and some leveling is a must, but the tempo is quick so it doesn't get to be a pain."
So, pretty much what everyone expected. Like P3, with a bunch of improvements and more polish.