Just my 2 cents...
Yeah well, i bought rpg maker 3 since i wanted to give the rpg-making thing a try, and i have to say it's good, but as any game ( err...toolset? ), it has its flaws.
First of all, i agree the graphics are better than some ps2 games i've played ( or maybe i'm playing too much old ps1 rpgs recently? ). The Castles look good, and making dungeons is easy peasy ( not to mention world maps )
Also, the battle system is kind of....er ok. You can still play it, even though it takes more time to load the battle than to fight the battle itself. Anyway, i can't compare anything to the first 2 rpg makers since i haven't played any of them.
And now the storyteller. When I first saw the storyteller, i hit circle immediately. It looked so hard to use, seeing as it has all those boxes and lines, but in reality, it's quite easy to use, and you can get nice results from it, despite the hours and hours you're going to have to spend typing something in the on-screen keyboard ( who ever said making an rpg is easy? ), although one day, I went to gamestop and saw a controller than had a "keyboard" in it, so i'm wondering if that ought to work?
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The New Rpg Maker have a nice graphics and cool places
--so yeah, all i said can pretty much be summarized with this.
Now for the nasty part, Character creation. Believe me, it sucks to have a 2D charcter image that looks nothing like the 3D version. It has a wide variety of 2D images ( the first 3 suck, but # 4 and #5 have the best pictures, specially 4 ), but it lacks 3D graphics. Pretty 3D graphics that is, since they all suck, why would you want to have a clown as one of your charcters?, and to make things worse, you can select from 4 colors to make your ugly character look "unique", the which they're all equally disgusting. Also, i wanted my main charcter to be 14-years-old, but i'm stuck with a character that looks like frodo baggins for a kid, compared to the scarce adult versions.
As i said before, making your own world map is very easy. You only do a little bit of this, a little bit of that, add some terrain over here and VOILA!, you're done. However your happiness doesn't last that much when you preview your map, and find that you can only walk in the center area of your easily built map, and that means, when using the layout editor, you can only build cities/castles in the same area, making all the kingdoms and dungeons look all bunched up together, making them seem like neighboring houses, instead of cities, and that was a big mistake, shame on you Agetec.
Also, the following seems to me to be rpg maker 3's biggest problem were our friends from Agetec really made sure to make many people not want to buy this, the camera, simply, is $#*#. I had never played a game with camera issues as strong as this one. It sucks so much, that you can almost only go forward, it's like they're controlling your game, instead of you. I have to say i'm really disapointed with this, it sucks so badly. Oh, and before i forget, everytime you talk with an NPC, the camera sort of shakes, and makes it look like an earthquake, why did they have to do this? what have i done to deserve this?
However, all the rest of rpg maker, which isn't that much, is very good, and easy to use. So, i have to say, that i don't recommend this game to just anyone, you must really be a guy/girl with lots and lots of free time, and talking about free time, LOTS of free memory card space ( I found the average ps2 game to be about 300 mb, and just one file for rpg maker 3 is about 2500 mb......that hurt right? ), and most importantly, lots of patience, you're going to need it, trust me.
Tenshi No Takai
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Also, i found what Vex Core said very interesting:
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Now, I am going out to buy them and is going to make a game for both, then place them on the internet for others to play. I am really hating myself right now.
Can you really do this?, this is something i didn't know, i thought rpg maker 3 would have been a better game, had it allowed us to put our 200-hours-masterpieces online.

. If this is true, how do you do this?