This game is awesome, but I suggest you wait for the NA release unless you speak fluent Japanese.

There are several translation guides hanging around, Dom. I'm sure some are posted on this forum itself.

You play as Tidus in the storyline Destiny Odyssey X. Each character has his/her own storyline.

quote o_ffxmaster_o

i CANT belive u dont like FFX its the BEST (i mean it ^^) game out there friend, u should play it.

Have you played FFVII?

The stories are only slightly linked to the original games. As in you'll never see Yuna in Tidus' storyline. I don't know more because I don't know Japanese, though.

FFXIII is not out yet. Not even in Japan. Trust me when I say it's gonna take time.

I said it then and I'll say it now. This is one of the best titles to hit the PSP. Even though I can't read one word of Japanese, I enjoyed this immensely and put 50+ hours into it even with my hectic schedule.
And mind you, none of the characters except Cloud and Sephiroth were familiar to me at all, but this game managed to change my all time favourite FF character as well.

Hi, Cloud.
Nope, Squall isn't familiar to me cause I haven't played FFVIII.
Fighting style is completely new. Read my review in the user reviews section. That should cover the basics.
There is a storyline. And don't get the japanese one now cause the english one is almost here.