PS3 would definitely get a lot less hate if it didn't have the PS name and the burden of following up 1 and 2, I can't say I really hate the game at all, the generation system was really cool (and I think beat DQ5 to the game in that regard), the way they tied it in to PS1 and 2 wasn't really THAT trite (although it was still tacked on), the multiple endings were kinda cool, and it had that dynamic battle music - really sinister sounding if you were getting your ass kicked, really cutesy and relaxed if you were kicking the crap out of some weak enemies.
Flaws - the dungeons seemed a lot smaller in scope, and generally less interesting than 1 or 2, and the animation on the enemies was much more half-assed, not to mention monster design. Luckily, SEGA followed it up with the PS sequel everyone wanted, but then the idiotic American market (who didn't even want to release it 'cuz they hated RPGs) priced it at $100+ just so it would purposely bomb.