As a lifelong RPG fan, I could never forgive myself for somehow missing out on a series as beloved as the Lunar games. It wasn't until several years later that I actually tracked this game down so I go into this without any of the nostalgia I have for other games of this era. That can sometimes be a death sentence for games I'm experiencing for the first time several years after the fact, especially with RPGs, which don't seem to age so well without those warm feelings associated with it. Does this tarnish Lunar for me? Yes and no.
The story is as generic JRPG as it gets. Without going into spoilers, You're a young, idealistic, naive kid from a small village that dreams of going on adventures and becoming a hero. Of course that involves finding dragons, getting powers, rescuing a girl, getting betrayed by someone you trust, rising up with the power of love and friendship and all things good, and eliminating the ultimate evil. So yeah, nothing special there.
In contrast to the generic story however are the great characters.Even though they are mostly stereotypical JRPG party members, their interactions with each other really bring them to life. Lunar was localized by the now sadly defunct Working Designs who were famous for spicing up typical dialog and making their games entertaining and memorable. All the characters really shine, with the exception of Alex, who really should have been a silent protagonist, since he's silent most of the game and the times he does talk, it's usually to mope about Luna. In the end, it doesn't really hurt the game that much. There are some wonderful, funny, heartfelt and surprisingly touching moments between these characters that really kept me invested in them throughout the story. The only downside to the localization is some out-of-place 90s references like a guy that talks like Austin Powers or Nall mentioning that a terrible singer is still better than Courtney Love.
The other big thing this game has going for it is the difficulty. The battle system is fairly standard but holy crap, even the random monsters you encounter give you a fight for your life! It definitely doesn't approach Shin Megami Tensei levels of brutal punishment, but knowing I couldn't just zone out through the random battles and needed every resource and strategy at my disposal for certain boss fights really made the gameplay much more engaging.
Overall, I think Lunar Silver Star Story is a very good game that may be slightly overrated by its ravenous fanbase. I wouldn't call it a masterpiece but I enjoyed the time I spent with it and would recommend it to fans of ps1 era RPGs.