^That wikipedia entry is pretty accurate.
This is a great series, and I've been waiting a while for a new one to come out for the DS. The first DS game was a lot of fun, but the battles were unbalanced (...too easy to die at the beginning), and the game lagged a lot.
This entry fixes the problem with the battles from the old game, the gameplay is sped up, and all the menus look nicer. If you haven't played any of the Atelier series (the PS2 games that came out in the US aren't the same), it's a semi free-form RPG. In any given game you are trying to raise money and hone your skills as an alchemist. People post requests for certain items, and you have to go out to different (extremely small) battlegrounds to collect materials you need to create those items. As the game goes on (time passes in days, it takes one day to make an item, one or more days to travel to a new area, etc.) you encounter different characters and events to progress the story.
Honestly, I haven't played any game like this series. There are always multiple endings, one where you become the strongest fighter, one where you become the best alchemist, and so on, so the focus of the game changes depending on how you want to play.