This thread has been long-coming. In fact, I'm pretty surprised nothing's been made on it until now.
Basically, the game's awesome. One of my favorite things (as lame as this may sound) is how there's actually a huge emphasis on the main character's social life and school activities, which are pretty much all but totally ignored in most other RPGs. Also, you can explore the dungeon at your leisure; but if you don't visit it often enough to level up or do quests, you're kind of fucked. So managing time effectively becomes an important skill to the game.
The main cast is actually fairly likable (though I don't care for Junpei, Yukari, or Fuuka). My favorite party is Akihiko, Koromaru, and Ken. Koromaru's probably my favorite party member overall, though.
For those who've played; who're your favorite Personas and Social Links?
My favorites of the main character's Personas would probably be Kohryu, Beelzebub, Lucifer, Chi You, Melchizedek, King Frost, Pale Rider, Daisoujou and Omoikane. From the other main characters' personas, I really like Caesar (Akihiko's 2nd form Persona), Cerberus (Koromaru's Persona), and Nemesis (Ken's first persona).
As for S. Links… Hierophant (Bunkichi and his wife) and Tower (Mutatsu, the awesome monk) were definitely my favorites (for obvious reasons). I also really liked Devil (Tanaka), Temperance (Bebe), and Moon (Gourmet King). My least favorites are probably Fortune (I only got to level 2 in it), Hanged Man (little girl in the park..), Death, and Judgement.
I'm at level 99 right now... I've just been levelling party members and Personas because I still feel like killing shit. Basically, nothing in the game can really even challenge me anymore; most (if not all) of my Personas absorb or block every physical attack, they all have awesome spells, the two I use most (Lucifer and Beelzebub) have an ability that full your HP/SP to full after every battle, and if anything gives me any trouble, I can pretty much instantly end the battle. I've even beaten the Reaper.
For people who haven't gotten to the end yet; be sure to max out the Star S. Link. Lucifer is a really awesome Persona, and he has an amazing dual attack with Satan. I'd also recommend maxing Devil and Tower, as Beelzebub and Chi You are pretty amazing.
And FES is allegedly confirmed to be coming here, though details are still scarce.