Despite the fact that this is one of the countless remakes for the first Final Fantasy, this game manages to be unique.
Most importantly however; the gameplay stays intact and true to the original. You'll still be wandering around the world, fighting relentless random battles, and trying to find your next destination. Just as any other Final Fantasy game, there will be plenty of towns to explore, purchase goods and heal your party. Also, there are multiple ways to travel around this surprisingly big world; by foot, by ship, by canoe or by airship, and all of them have there own pros and cons but the airship will prove the most useful. With that said, the random battles are way to frequent, and will require lots of patience if you want to explore every inch of this world.
The reason you're travelling around the world is because your party happens to be "the four warriors of light", that an ancient prophecy spoke of. The prophecy said that the four warriors of light will bring peace, and rid the land of monsters. They will do this by restoring all four crystals conveniently placed in the depths of dark, winding dungeons, guarded by powerful monsters.
It's hard to appreciate a games artistic merit when it is full of blocky, pixelated characters, hardly recognisable fiends, and a dull world. Fortunately, Square-Enix have totally revamped the graphics which are now crisp, detailed characters, and a lush, colourful world. The backgrounds when in battle look beautiful and very detailed. All of this combined with catchy, short melodies, that change depending on the way your travelling, or what you're fighting really add to the games experience.
However, considering that this game is at the full retail price for a PSP game, you could buy Final Fantasy 1 and 2 for the GBA for cheaper, so that may be the best option. If you don't happen to own a GBA, and you don't already own a remake of this game, Final Fantasy Anniversary Edition for the PSP is worth the price tag, and will give you a good trip down memory lane.