I'm 9 hours in (which I assume is very early in the game) but I am totally blown away. I don't even like JRPGs and I'm totally drawn in. Reminds me a LOT of the previous JRPG I enjoyed in any capacity, Final fantasy 12. Great combat, great story (so far), really smart systems.. I love how you don't have to turn in quests, or how the future prediction stuff feeds into the combat, and the fast travel, and the nonexistent penalty for death. It's like they looked at what made JRPGs boring and just sliced it all out, while taking the right kinds of inspiration from other more modern RPGs in the same vein. I guess I never thought of it like that before, but World of Warcraft really has a lot in common with JRPGs, so much so JRPGs are now cribbing from WoW. Impressive either way.
I know some people lament this game being on the Wii, but I actually think the shittier specs make for a game that was easier for Monolith to make. I mean we saw how Squeenix folded in on themselves trying to produce a JRPG with next gen assets, and for Xenoblade the developers really went as far as they felt they should, and the overall quality of the world and just running around it and looking at it is so good that any technical complaints about the visuals end up feeling really ungrateful. The first time i saw rain on a huge grassy field with building sized monsters wandering around I was completely sold on the illusion.
If you have a chance to play it, you really should give it a go. I think it's a truly stunning achievement.