Looks like they took down the three huge, slow AVIs and put up a new, 20 MB combat video fighting brutes in El Paso. This time it looks a lot better. The movement is actually pretty smooth, and there are new environmental features like bones on the ground, waving plants in the rock walls. The GBA version did a real nice job on the navigation through the mazes, and it looks like the DS version will continue that trend. Again, it looks 360 degrees of movement and looking, plus at least the ability to look down. The Elite Brute in the video doesn't move his feet when walking, but otherwise looks pretty decent.
Anyhow, the graphics aren't really what sets this franchise apart. The thing I liked most about the GBA version was that it crammed so much of the western RPG experience into a handheld game, and so the limited combat graphics didn't bother me. The free exploration of the overworld and dungeons, NPC interaction that affected the story, recruitable NPCs, extensive array of weapons, armor and spells, and especially the flexible leveling system whereby you could focus on being a fighter/mage/thief/cleric (cleric by proficiency in El and later Daim magic), or go multi-class/jack of all trades were what made this game impressive.
Other than the rather dull Dungeons and Dragons: Eye of the Beholder, this is the only real western dungeon crawler on the GBA. Pretty impressive considering it was made not by one of the big publishers, but a small developer in Argentina. I'll be buying this on launch day if for no other reason than to support the little guys who have big enough stones to try something different than the some old recyled formula games. That's the same reason I like Atlus titles. Originality and a willingness to take the risk of trying something different.