I replayed the battle scenes extensively, I don't think it is action RPG like some people are claiming. I think it's still basically real time menu based and what we saw are just the attack animations. so you select attack from the menu, and he does the same thing as the original, but with flashy animations with maybe multiple hits that still add up to the correct total. It looked like it could have freestyle movement around the battlefield though, so that would make it feel a bit more like the combat from FF12 without gambits?
As long as it's not button-mash I have hope. I'm thinking it looks very true to the original combat-wise. If you look in the lower right corner you can see the limit guages filling up and the hp/mana totals. I didn't see any ATB guage filling up though, but it could be the colored attack bar, or it's not in yet, or it disappears during attacks, who knows.