The charas aren't as
cute and I don't think the story is as good, but the gameplay is more fun
than ND1. The game has true LMB again, costumes are easier to obtain, and
it can be beat in about a tenth of the time.
Characters
from ToP, ToD, and ToE are all playable characters, most of them optional. The main characters
are Frio and Kyaro, who were orphaned due to a demon attack. (They are friends, not
siblings.) They have about 100 costumes each, and this time you must
buy a different costume for each character because they are for different
genders. :D
The world (the weird floating island) is in danger, but it's necessary for the heroes to be people from this world. If the world isn't saved, Frio and Kyaro can't undergo the ceremony to become adults, and they will always be a burden to their orphanage--so they volunteer to do the job. But they're not exactly hero material. The goddesses, Ayda and Stella, give them a special power; they can become anything if they wear the right clothes. The goddesses also bring heroes from other worlds to help out.
In the midst of monster-killing, Frio and Kyaro use their powers to help people. You go to an NPC, get a "Quest", and go do it. Most plot points are disguised as Quests.
Characters
Frio Svane
Kyaro Orangê
Thanatos (There are no official translations for these names.)
For the other 22 player charas, see the page of the game they came from.