It's not bad. I would really only recommend it strongly for anyone who likes the Suikoden world and wants to experience more games set there. The overall gameplay is ok for an SRPG, and it features some nice use of icons to give you quick information, but it just lacks the punch that truly great SRPGs have.
Still, it's much better than Suikoden IV. You get used to the graphics eventually, and it's nice to see what happened to the better members of Suikoden IV's cast.