I'm reading through the pdf file, and I must say I'm rather impressed. The crunch seems more balanced, I love the new freelancer class, the skills have been condensed for ease of use, you got rid of the clunky weapon/armor skill level system and the similarly clunky stats cap system.
You also did well with the fluff. One of the major complaints, from reviews and to a lesser extent here, was the setting. In the last version, it was just a random smattering of pieces from different Final Fantasy games. Now, each game is given its own brief but enlightening section. Each works as a setting, and more aspirational DMs can mix and match as they please.
I like the new ways to spend destiny. Enhancing a Roll is simple and fits what destiny points are set to accomplish. You're the heroes, the main characters, you should be good at doing awesome things. Moment of Glory brings a smile to my face. I imagine that before its conception, having only 6 destiny when you needed to cheat death was immensely frustrating. Now, at least, you can go out with a bang.
The new Complications system is my favorite implementation of the critical failure rule ever. Rather then directly screwing the player over, the situation gets worse but still doable. It does so in a way that adds tension and opens new possibilities in accomplishing/overcoming the obstacles to your goals.
On the subject of goals, I'm glad to see some rules on it. A primary goal and 3 short-term goals add depth to characters in a way even traits couldn't, and ties fluff with mechanical benefits even better. At the same time, they're far more versatile then choosing from a handful of traits. I wouldn't mind seeing traits as an optional system, mind you, but the goals, the Enhance a Roll destiny use, and some new job abilities seem to cover everything they were supposed to well enough, so I can see why they were removed.
I support the removal of the Affiliation system, and the class/affiliation limits imposed on races like Elvaan and Moogles. While flavorful, they served no real purpose and limited creativity. If you can come up with a half-way reasonable explanation for a character, you should be allowed to use it.
All in all, it's very flexible and streamlined. The rules are simple to learn, the character creation process in quick and easy, and the fluff is presented in a way you can pick and choose what you want to use and build upon. Combat is simple, creating weapons and limit breaks is simple, and all without being restrictive or vague. This system really works for Final Fantasy, and could probably be adapted for anything if one was so inclined.
...I don't suppose anyone wants so start up a game with this system?