This may particularly interest Mala, but Uematsu has stated that this game has his favorite composition out of all of his projects. He said in an interview that if he had time to do another concert, it would be the entire sound track.
I downloaded the soundtrack recently and I can see why he would say this. From the standpoint of pure composition, it's probably his most complicated and sophisticated album. It's clear an awful lot of work went into every single track.
I can't speak for how it works in the game, but it feels like this was done at the expense of the soundtrack's ultimate mood diversity. I don't really know if this is in line with the way most people perceive his work, but what I've always really appreciated about Uematsu's finer works were how perfectly they fit the situation in which they were used, and the target mood of that particular section of the game. I've said it many times on this forum that I think one of the main reasons - if not THE main reason - why Final Fantasy games were effective in storytelling was how much Uematsu's music clarified and amplified the desired mood and atmosphere of damn near every story event in the game.
Again, I have no idea how well this works in the game, but the Lost Odyssey soundtrack sounds fairly unspecific to me. I really don't see how the music has much potential for reflecting what is actually happening in the game, unless the game is just one gigantic series of EPIC CUTSCENES, which I suppose is possible.
Don't get me wrong, however. It is a pretty good soundtrack, particularly by the current dreadful industry standards, and some of the best work I've heard out of Uematsu in a very long time. I'm mainly a little discouraged that he thinks of this as his MASTERPIECE. Probably a sign that his music will continue getting progressively more and more impersonal and cinematic. Oh well.