I haven't posted here in ages. Anyway, time for an analysis of Persona 4! I finished this a bit ago, and have mostly been busy and working on stat topic stuff.
So yeah, much of what everyone else has said is true. Persona 4 is, basically, an improved Persona 3. So much so to the point that I'm having trouble finding areas where it hasn't improved on. The music, the flow, basically everything is improved. Definite highlight game of the year - it does everything amazingly well.
So...discussion points! Let's start with spoiler-laden story first:
So, the only major issues that I have with P4 compared to P3 are in regards to some decisions made by Atlus. Particularly, why the FUCK are the endings so annoying to differentiate between? I mean, the game does a good job of making it a point to never settle for an easy answer, to think outside the box, etc. But the game should not have required 5 specific choices in a row to avoid the bad ending - especially when some of those choices had 4 options. Rather, it should have been a more simple, "yes" or "no" thing...well, keeping the "We're missing something" option is ok too, but in general, it didn't need all those specific choices. That's just annoying. Thankfully, this is really the only issue I have - P3 did it right with a "yes/no" thing. P4 didn't need to do that, but to make it less intensive or more obvious (though, again, it does give hints). This also extends to the true ending section, albeit less so. Granted, knowing exactly what to do and where to go...isn't obvious, but at least there should be a few nagging thoughts as to what to do. Granted, more on that a bit later.
Anyway, overall story...I find works amazingly well. Murder mystery is cool, and I think they do a good job of pulling it off. Adachi...I actually liked the Ax Crazy villain he was. Motivations stupid? Serial killers generally have stupid motives >_> I actually enjoyed looking for the real killer, and it's not so damn obscure that you won't find him. Assuming you move on towards the right ending, you get 3 chances to choose out of 20-some characters who the real killer might be. These include your social links, as well as Adachi and a few other people (I think the Aiya owner is part of the group too). You get a few good hints before the choice, and you can easily limit the decision down to 5 or so people. Adachi does a great job to hide everything, and the few small slip-ups are well-hidden and not too obvious until the end. I also loved the fact that he lived at the end - much better than him dying, as now he's paying for his crimes.
As for other aspects - the sidetrack killers (Mitsuo, Namatame) did their job well, and the ongoing investigation, despite feeling slow overall, was a good mimicry of a murder case. I really overall loved the story and how it progressed, and think it worked much better than P3's.
That being said, I feel like the true ending...feels a little tacked on? I'm actually having trouble quantifying it - It feels a bit like The Answer, albeit it makes sense and works fine with the story. You know there's something odd since the beginning of the game, and there are still questions remaining even after the normal ending - Origins of the Midnight Channel, How did Soji get his persona, How did the others get their personas, etc. The fact there are unanswered questions that need answered is the point of the game story (REACH OUT TO THE TRUTH!!!!), and should be the clue as to where you need to search for. Nonetheless...it feels a like a bit of an anti-climax. I mean, the build-up to the murderer was the big point of the game, and while Ameno-sagiri was a bit...last minute...it at least worked. Izanami felt last minute-last minute, which...eh. You know something's wrong since the first few scenes of the game, and having her be behind everything is ok...but I think the presentation could have been done a bit better. Knowing exactly what to do for the ending is a bit annoying, though if you do get to the right place...then you are fine. Granted, the scene that occurs AFTER you go towards the true ending path should have come BEFORE as a hint (maybe Yosuke could have said something to the effect of, "Hey, if you have time after seeing everyone, feel free to come to Junes for a send-off party!" - then you could still get the "Go Home?" thing, but at least there would be some type of direction to move to). However, it is, as I said, not too impossible to get so...eh.
Characterization throughout the game is excellent - the characters feel closer, more alive than in P3. This is helped a lot by party members being S.Links - THIS SHOULD HAVE BEEN DONE IN P3! Seriously, it's a great way to make them more alive, and to put some gameplay backing for completing them. Nanako is <3, and Dojimo is also cool. Most of the other S.Links are also fairly endearing too, and I love the fact that you actually get more closure with them in the normal/true endings. I also love that there's far more S.link interaction than before - MOON connects with STRENGTH, there are multiple people for some of the links, party members all get involved, etc. Makes things a lot more realistic.
Speaking of which, S.Link things!
FOOL/JUDGMENT - Party links, auto-max, story-based. No major comments.
MAGICIAN - Loved the end to this. Yosuke is endearing, and the link correlates with Soji's experiences pretty well.
PRIESTESS - Sailor Mars battles with her conflicted feelings. Also learns how to cook.
EMPRESS - ...so, yeah, Margaret is...a slut. Entertaining, though not much interaction, sadly...but the normal ending closure is cool.
EMPEROR - "I'm going to RENOVATE your ass!" <3 Kanji.
HIEROPHANT - As I said, I like Dojima. The family thing works so well.
LOVERS - <3 Rise. It's fairly generic, but...damnit, she's so cute!
CHARIOT - <3 Chie. This is...not anything too special, but...eh. Probably the most generic of the part members?
STRENGTH - Love the double-teaming here. Somewhat done before (on a Disney movie?), but the characters have more personality, so it works.
HERMIT - Fox!
FORTUNE - Another detective story...this one is...not that interesting, overall? Oh well.
JUSTICE - NANAKO!!!!!!!!
HANGED MAN - Wow, this is an emo link ;_; I need to cut myself!
DEATH - ...well, the link knows what arcana she is!
TEMPERENCE - MILF. Also, the link that got the most fucked up, but still got finished.
DEVIL - Disturbing to start. Finished out like a Scrubs episode at the end.
TOWER - Tutoring. Has a funny party scene, but...pretty generic overall?
STAR - Auto-done storywise.
MOON - I loved this link. It's the link you can fuck up the most, get a relationship the most with, and the choices really illustrate how much more open and expansive the dialogue choices are in P4. For instance, telling Ai to go jump off the roof, which is not something that would be doable in P3. You can be a much bigger asshole in P4 than P3. Also very open and entertaining.
SUN - Ayane is pretty ugly. Do the drama club - Yumi's prettier, and probably more interesting.
Also loved how there was more time to finish the S.Links in this game, which is how they should be. Not being as constrained as in P3 is a good thing. There's open time to explore, and more to do (fish, play with cat, part-time jobs, etc.). Really, really like the integration of the world in P4 - it's excellent.
Now, music-wise...the game is much better. While P3's music fit amazingly well, P4's is cool to listen to outside of the game! The only weaker point is Battle for Everyone's Souls > The Genesis (even though Genesis isn't awful, and has a good part in the middle-end, BfES is far better), but the other songs, The Mist, The Almighty, New World Fool, I'll Face Myself...the battle music is excellent. While the last month music for the school and overworld is worse than in P3, that and the final battle music are the only weaker points. Reach Out to the Truth is addicting and awesome Engrish (..."all the homo men to love"...), and The Mist is excellent (too bad it plays for the weaker form of the final boss ;_;). As for other music...I loved the dungeon themes. The dungeons themselves being completely different each time AND having unique music is awesome. I loved the Secret Lab and Heaven, and Magatsu was a remix of Monado Mondala from P2, which kicked ass. Just excellent overall.
Voices...were all good. P3 probably was a little better overall (Chie's voice was sometimes in and out, and Raidou's VA did not hide it very well >_>_, but the VA is still great. Especially loved Kanji's and Yosuke's, and Teddie's personality in his voice was simply awesome. So yeah, overall great.
Combat-wise...again, improved P3. AGI actually affecting speed is great, and levels...play less of a role than in P3, I find, though still significant. The new weakness system...better in-game, worse DL-wise. Characters were generally much better in this game, and held up to the main pretty well. Much better balanced physical attacks also helped, and new and cool accessories and armour and weapons...also very nice. Great battles too - randoms a bit more challenging, status a bit more useful, bosses typically excellent (though trended downward after the Bathhouse, I found, until the end). Excellent design on the bosses too - Bathhouse and Striptease in particular were 0_o.
Stat topic done, just need to get back from Philadelphia to post the damn thing and change one or two things. In-game rankings!
Yosuke - Does everything decently. Not outstanding, but getting Dekaja and a MT status is nice. Speed is also good, as is the upgraded persona.
Chie - Is awesome. Falls off from around level 30 to 50 a bit, then gets Power Charge, then gets God Hand at 70. Then she's a monster. Decent enough stats overall too.
Yukiko - Still has a weakness, but is great. Healing and solid damage. Kind of frailish, but a great party member.
Kanji - KANJI SMASH. No SP, but insane HP and still covers electric well enough. Not as good in the end as Chie for physical beatings (she gets MT, mult-hit stuff with Power Charge), but gets Matarukaja to compensate. Slowish, though.
Rise - Broken.
Teddie - Yukiko, with a few differences. A little more durable, a little less damaging, overall worse weakness/resistance. However, gets MT buffs. Issue with him is he gets so many good skills it's hard to define what you want him to do. In a team with the 3 guys, I'd suggest killing off his Matarukaja, and getting Maraku and focusing on healing and support. Mixed with anyone else, probably wants ice damage with some healing. He's good in that he can do about anything you want, but the 8 skill limit hurts.
Naoto - Smites randoms nicely, isn't lost against bosses (though her SP gets eaten fastish). Great resistances and overall good stats, with a great secret weapon (why is Chie the only one who doesn't get one ;_;). No support skills, but it doesn't matter.
My team was the girls, and it worked great. Any team is good, though using the 3 guys is probably one of the best (full buffs).
So yeah, highly recommend this game to everyone. Especially if P3 put you off a bit - it's much more polished and awesome, and a great game to get into.