Not a complete failure.....but close
The only real upside to the game is the story, which is solid, and decently intriguing. There are explanations for most events in the game, operating around the history of the 'golem' war. While the golems are interesting themselves, they do make the game a little monotonous.
The combat system, at fist glance is quite a refreshing change, especially the fact it is turn based. However that said, after a few hours thinking 'ah yeah, this combat system is cool and different' you'll instead be saying 'oh great, another pointless battle with this stupid combat system' This is mainly due to the fact that you are constantly bombarded with routine battles during your travels around the gameworld. This makes travel across any long distance an absolute pain.
I am actually yet to finish Enchanted Arms, after getting utterly fed up with the routine battles, I went and bought Devil May Cry 4. Eventually I will go back and finish the story but after wading through 80% of the game (according to the game itself) I just can't be bothered when there are so many other games out there that are worth my time.
If you're thinking, 'Yeah I like RPG's, this is something I should buy' I recommend you reconsider, If however you're a fan of the 'collect random creatures and fight battles constantly to level' style of game, then go ahead, you'll probably love this game. Personally for that style of game, I'd get Pokemon or something.