Catherine-level of production would be awesome for SMT and Persona... just saying.
Not too sure about that for I was fine with what it was. It had drawn portraits instead of up-close detail and all that, but so what? I liked it, certainly didn't hamper their epic'ness.
I think a lot of developers forget that they didn't need that to tell a story (and they often told better stories at that) I'm not so much a "no it doesn't look good" (to be made with high end in mind), but in the end we waited 4 extra years for something that'll go down on memory lane the same way because it's the message that stands out, you can have the best production values available and still be forgettable while some SNES games are really memorable; and that's if by going high end it doesn't make compromises, if it does we'll remember the compromises like we often do for Final Fantasy games. That's all there is to it.
The way of the high end is not always the best way to make money/keep on going; specially seeing it's a one track way, if Nippon Ichi made high tech Disgaea games I don't think they could go back to low budget Disgaea, they'd be accused of cheapness then. But is low end such a bad choice for them? Although I'd say they don't capitalize on it like they should (neither does Atlus) low end on home console's often means you can go port crazy on the cheap (and the ports not suck) and that's bliss for a third party. They could have released motherfucking Disgaea 3 at the same time on PS2, PSP and PS3. Now we're talking.
Low end is not a curse, it ensues that the development is quick and cheap enough (often enables devs to make a longer game, seeing most home console RPG's this gen shrank), ensures easy enough porting and not over relying on the hardware intrincancies (eases out later port efforts as well), also manages to work out better for the teams/talent, a job with an end at view (and a manageable team) is surely easier than a big ass job that'll take you forever; midway of not seeing the goal line people tend to be tired, and at that point it's a mudfight to finish a game/project.
I like system pushers as much as any other guy, but if I was behing a dev of any kind I'd probably be so darn low end; low end is often an asset rather than a curse; and when it comes to SMT I'd consider the kick ass artistic directions a byproduct of the "we're not doing FFX here, so we have to be different"; and I'd take the artistic direction any day.
PS: I can't stress enough that I'm so freaking glad SMT3 is third person though, I'm sure that qualifies as more high end than a first person dungeon crawler would (and looks so good), so my point isn't so much anti-anything as it is that there's a sweet spot for everything; the direction this industry assumes normal, that everything has to go high end (or higher end) though, I don't really like; I feel it's never sustainable in the long run and in the end it's the "core" game that matters for all of us.
Sorry for the rant.