Having played Lost Odyssey quite a bit I can certainly understand your criticisms. There are many instances in the game where the pace comes to a grinding halt and you are forced into some of the poorly constructed adventure or puzzle elements you mentioned, or you are treated to a long barrage of cut scenes. Disc 3 in particular is probably one of the greatest insults I've had to sit through in quite some time. There must have been 11 or 12 cut scenes in a row. I actually thought the story was interesting until about this point, when I started skipping them. Cooke and Mack nearly spoil the game all by themselves (third-rate Palom/Porom knock-off brats that get more and more grating as the game goes on).

The constant maintenance is a plus and a minus. On the one hand, it's a great way to keep yourself busy if you're a bit of an OCD completionist like I am. On the other, I find myself tinkering in the menu nearly after EVERY single battle. If I was a casual RPG gamer I'd be really annoyed.

I will say that the "dreams" you can unlock may be the one of the best parts about the whole game. I understand that they are passive experiences and you actually have to *gasp* read but that's the point. The fact that you are reading as opposed to watching something forces you to imagine the story in your head. They are all well-written and each very emotionally touching. A few almost made me cry. If you don't like them you're note forced to read them.

In short: you need lots of patience to play this game, but if you delve in deep enough, you'll find a lot to reward you. I'd give it a 6.5/10 (on the "7-10" review scale that most sites use, not sure if this one does, it'd be a 7.5 or maybe an 8 out of 10).